I have a bike which I want to sell. Buyer is insisting me to handover the bike after signing the required transfer form before gettnig the vehicle registered in his name. As per him, the ownership of seller ceases at the time both parties sign the sale deed form and other trasnfer form (form 28 and 29). I am bit confused. As per my opinion, until bike is registered in the name of buyer, I should not handover it to buyer. Please advise what should I do.
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1.Transfer Deed Form,
Take the printout of these forms and get it duly filled and signed. And submit it in the RTO for a change of ownership of the bike. Form 28 and Transfer Deed is not mandatory for sale/purchase but Form 29 and Form 30 are mandatory.
2.Transfer Deed,
Transfer Deed is the certificate the seller should possess to have no legal liabilities on the bike in future. 2 original copies (not photostats) of Transfer Deed should be taken. Engine Number, Chassis Number and Registration Number should be written in that. Revenue Stamps should be pasted on them and signed by the buyer. Both buyer and seller should posses the forms.
For more details regarding transfer of ownership please visit www.bikes4sale.in/bike-selling-procedure.php