SALE and PURCHASE of Old Motor Vehicles: There are cases when the new buyer does not transfer the vehicle in his or her name and in such cases all the liabilities rest with the old owner who was the seller. Thefts , criminal acts including involvement in accidents or acts of terrorism and everything else like evasion of taxes and insurance will all be the responsibility of the owner in whose name the vehicle is registered at the time of commitment of such acts. Even if the motor vehicle is driven by someone without a licence, the Motor Vehicle Act provision penalizes the owner for lending his vehicle to the one without a licence. A Draft Proforma For Sale of Motor Vehicles is given here. The State laws are different for every State and the essence of the content is reproduced here : TO WHOMSOEVER IT MAY CONCERN Certified that we namely Shri/Smt/Ms_______________ , s/o____________ resident of ____________________________ (seller) and Shri/Smt/Ms______________________________________________ _______________ son/ daughter of Shri/ Smt/Ms______________________________________________ __ ____resident of________________________________________________ _(buyer) have entered into an agreement to sell the automobile (make,class and model year)_______________bearing registration no.________________ , engine no.___________and chassis no._______________in a mechanically fit, sound and satisfactory running condition to the buyer. The automobile has been checked by a competent mechanic and the buyer Shri/Smt/Ms________________________ is fully satisfied. No complaints of any kind whatsoever as far as the automobile (make) _______________bearing registration no. __________________ is concerned will be entertained hereinafter by the seller. The sale is being effected from this ______day of __________ during the year_______ at _________A.M./P.M after which every action with the automobile (make)________________registration no. _______________________will solely be the liability and responsibility of the buyer Shri/Smt/Ms_______________ s/o ________________ r/o_____________________________who is also the new owner, hereinafter the quoted date and time from when the sale is effected. The seller Shri/Smt/Ms _____________________bears no liability and responsibility hereinafter from the date and time the sale is fully effected. The buyer Shri/Smt/Ms___________________________________undertakes to effect the transfer of ownership viz. insurance, registration and taxation certificates in his own name within a reasonable time period of time, in any case not later than two weeks from the date of the sale. The sale is being effected for a consideration of a sum of Rupees_________ which the buyer has paid the seller by Cash/Cheque/ Demand Draft/Bankers cheque bearing no.______________dated and drawn on (bank and branch). signed with name and address signed with name and address (BUYER) (SELLER) Dated Witnesses (1) Signature Name and Address_________________________ (2) Signature Name and Address_________________________
Posted on: Sat, 18 Oct 2014 13:09:23 +0000
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