The second-hand two-wheeler market is huge in our country, with thousands of people buying and selling used bikes. A second-hand bike is affordable and allows you to get a vehicle without spending much.
With digital platforms and websites, buying and selling used bikes has become easy. If you are planning to purchase a used two-wheeler, then there is one thing that you need to keep in mind – your purchase is not complete until the bike’s ownership is transferred from the seller to you.
This is an important step because until the vehicle is transferred, the owner is liable for anything that happens because of it. The Motor Vehicles Act 1988 mandated all buyers and sellers to complete the process of bike registration transfer while buying and selling used two-wheelers.
You also need to ensure that you buy third-party bike insurance or a comprehensive insurance policy for bikes based on your needs. This article will offer a step-by-step guide for transferring bike ownership.
How To Transfer Ownership of A Bike?
Here is a quick look at the steps involved in bike ownership transfer:
- Submit an application form to the RTO office where the bike was registered. The application should request the two-wheeler owner transfer to your name.
- Submit a No Objection Certificate (Form 29) signed by the seller. This should state that the seller has no objection to transferring ownership.
- Submit Form 30, which intimates the transfer of ownership. This needs to be signed by the buyer and seller.
- Submit the documents required by the RTO for the transfer.
- The RTO transfers the bike within 14 days of receiving the request.
Documents Needed For Transferring Bike Ownership
You will need the following documents to initiate the transfer of bike ownership:
- Registration Certificate – the seller needs to handover the registration certificate to the buyer
- PUC Certificate – this is another document that the buyer needs to collect from the seller
- Two-wheeler insurance policy – you either transfer the existing insurance policy or close it and buy a new one. However, make sure the bike has an active insurance policy before taking it out on the roads.
- Receipts of all the road tax paid on the two-wheeler
- Recent photographs of the seller
- The seller must get a No Objection Letter from the financial institution if the bike is under a two-wheeler loan.
- If the owner of the bike being sold is dead, then you need to submit:
- Form 31
- TCA (intimation of the transfer by the buyer)
- TCR (intimation of the transfer by the seller)
- Death certificate of the owner
- Succession Certificate
- Affidavit from the preceding owner
- Registration fee
How Much Does It Cost To Transfer Ownership of A Bike In India?
The transfer fee charged by RTO for transferring ownership of a two-wheeler is Rs.30.
As you can see, transferring ownership of a vehicle is a document and forms-driven process and requires you to submit them in time to the RTO. While transferring ownership, make sure that you think about the kind of bike insurance policy you want for your two-wheeler.
When you buy a used two-wheeler, ensure you understand the processes involved in legally transferring it to your name. We have described the process above and a list of documents you might need. However, remember that each transfer case can be different. Hence, initiate the process and follow the instructions given by the RTO to complete the transfer process. Also, make sure you buy the best bike insurance policy to get the best protection for your needs.