Commonly people in Bangladesh are more interested in buying old cars because people can buy a used car at a low price. But you know there are some legal complications in changing the ownership of a car when buying and selling an old car. As a result, sometimes the buyer and the seller both are trying to avoid the whole system. But I am saying you that if the car is registered legally, many problems can be solved otherwise you will face many troubles. Now let’s go to know about the process to transfer the ownership of a car.
How To Transfer Ownership Of A Car
Car ownership transfer process is very important for buyer and seller both. Though car ownership transfer is a bit complicated process in Bangladesh, this process can be very easy by following some essential processes. Both the buyer and the seller have to follow some process to change the ownership of the car. There are a total of 3 steps to transfer ownership of a car. No more delay, let’s go to know about these steps.
Things To Do As A Buyer
Firstly, there has some required task for a buyer to transfer ownership of the car. First of all, the buyer’s signature should be taken on the prescribed form ‘Too,’ and the buyer’s sample signature should be taken at the designated place of ‘TTO.’ This form can be found on BRTA’s website. The original copy of the receipt has to be submitted to BRTA by depositing the prescribed fee.
Afterwards, the buyer must attest the TIN Certificate, National Identity Card, current home address telephone bill or electricity bill, copies of the original Registration Certificate, Digital Registration Certificate, and updated tax-token fitness, route permit documents.
An affidavit of 200 TK with a photo or non-judicial stamp prescribed by the government should be submitted after finishing the tasks. If the buyer is an organization, then the letter must be given on the official pad instead of the affidavit. All other information on the form, including the buyer’s signature and 3 copies of stamp size colour photograph, must be submitted in English capital letters. The car has to be brought to the BRTA office for display. If there is any problem with the seller’s signature, he has to present it at the BRTA office.
Things To Do As A Seller
In addition to the buyer tasks, there has also some necessary tasks. The seller has to sign on the TTO form and sales receipt. If you are the car’s seller, you have to submit an affidavit of TK 200 along with a photo or non-judicial stamp prescribed by the government. If the seller is a company, its letterhead pad has to give intimation, board resolution, and authorization letter.
If the car is liable to the bank or any other institution, the debtor will have to submit the loan repayment certificate, loan adjustment statement, a request from the bank assistant director, and affidavit on 200 TK non-judicial stamp prescribed by the government. An attested photocopy of the seller’s national identity card must be submitted. If there is any discrepancy in the seller’s signature, he has to appear in the office.
Documents Required For Transfer Of Ownership In Inheritance Formula
There will need some required documents for ownership in inheritance. I have collected all the documents’ details and presented these in the article below. Please, continue following the text. Which documents are required? These are-
- Completed and signed ‘TO’ and ‘TTO’ forms
- Certificate of Inheritance of a Court or Local Government Institution.
- Receipt for submission of the required fee.
- Attested copy of first heir certificate in case of multiple heirs (in case of a non-rented car, jeep, microbus).
- Original Registration Certificate (both copies) / Digital Registration Certificate.
After checking all the information and documents, if the authority thinks that all the documents match, the authority will record the registration certificate process within the next 30 days. And if the registration authority is not the major authority, they will inform the main registration authority.
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In the end, if you do not complete the legal process of car ownership transfer, you have to go through various legal complexity. To avoid these legal complications, you must complete all the legal work while buying an old car. That is the processing system to transfer the ownership of a car. Tell me about your opinion after reading this whole article. If you have any more questions about the topic, scribe a comment on the comment box below. Thank you for remaining with me in the long run.