Second Hand Bike Selling Agreement

A transcript bears the name and address of the two parties who accept the facts, as well as information about the bike, such as the license plate, chassis number, engine number, etc. Both the buyer and the seller must sign this deed correctly and stamp a turnover. The buyer`s and seller`s signatures on a proof confirm the conclusion of the sale by mutual agreement. This receipt also contains information about add-ons or taxes paid when transferring ownership of the bike. Yes, the transfer of ownership of the bike can also be done online by sending a softcopy of all the necessary documents to your RTO concerned by email. For the transfer of ownership, you need to perform a detailed and gradual process. Other requirements for such a transfer must also be met when purchasing a used bike. Other documents that the buyer should receive from the seller when buying a bike are shown below. The deed of transfer is the certificate that the seller should possess in order not to have legal debts in the future on the bike. 2 original copies (no photos) of the deed transfer must be taken.

The engine number, chassis number and registration number must be written on it. The sales stamps must be glued to them and signed by the buyer. Buyers and sellers should own the forms. Even though this certificate is mandatory for vehicles over six months old, unlike insurance certificate buyers do not have to pay the penalty for cycling time do not have the certificate. Therefore, if the seller does not have one, the buyer may have another one as soon as he has possession of the bike. Take the expression of these forms and let it be duly completed and signed. And do it in the RTO for a change of ownership of the bike. Form 28 and the transfer document are not required for sale/purchase, but form 29 and form 30 are mandatory.

In addition, the non-execution of the transfer of ownership of the two-wheelers also means that up to the transfer of bicycle insurance, which is in turn mandatory under the Motor Vehicle Act. Even if an insurance is out of date or becomes invalid, the driver must be Berappt Rs. 2,000 as a penalty for breach of safety rules. The transfer of ownership of bicycles can now be done in two ways: before buying a used bike, a tax notice must be acquired by a former owner. If you are commissioning a bicycle possession transfer, you must also submit this certificate to the RTO. This is either an annual or one-time payment to the OTR and serves as proof of timely payment of tax. It`s safer to sell your bike to people you know or to reputable sporting goods stores. If you have to sell to a stranger (either online or via an information ad), then meet and exchange in a public place with a lot of people around.