In India, the popularity of bikes is fuelled by their affordability, cost-effectiveness, and manoeuvrability in traffic. Opting for a pre-owned motorcycle can further reduce ownership expenses. However, transferring ownership involves crucial documents, online insurance for bikes, and registration steps. This guide provides essential insights for a seamless ownership transfer.
Ownership Transfer Process:
The process involves obtaining specific documents before purchasing a pre-owned bike. These include the bike’s registration certificate, pollution certificate, sales receipt, insurance, and Forms 29, 30, and 28. The seller initiates submitting the ownership transfer form to the Regional Transport Office (RTO), signed by both parties. Upon completion of the paperwork and payment of fees, the RTO verifies the details, enabling the buyer to take possession of the bike.
Documents Required For Transfer:
For an intra-state transfer, documents such as Pollution Under Control certificate, insurance policy duplicate, bike’s registration certificate, road tax certificate, sales receipt, buyer’s identity and address verification, PAN card or Form 60/61, and a No Objection Certificate (NOC) from the bank for outstanding debts are mandatory. In case of the previous owner’s demise, additional documents like Form 31, the owner’s death certificate, the lawyer’s succession certificate, and a copy of the bike insurance are needed.
During inter-state transfers, it becomes imperative to provide additional documentation, encompassing a clearance letter from the previous Regional Transport Office (RTO), Document 28, the road tax receipt from the destination state, and a comprehensive report from the no-crime record bureau to facilitate a seamless transition of ownership.
Bike Transfer Fees:
The ownership transfer incurs charges such as Rs. 200 for a smart card and Rs. 30-35 as RTO charges, totalling approximately Rs. 235.
Transferring RC And Bike Insurance:
Transferring online bike insurance is a critical aspect of ownership transfer. The process involves notifying the insurance company within two weeks of completion, submitting original and updated RC copies, proof of the buyer’s identity/address, and other necessary documents. Make sure you renew bike insurance on time for uninterrupted coverage. Claims are subject to terms and conditions set forth under the motor insurance policy. *
The insurance company issues an updated insurance document, and the buyer must inform the RTO about the insurance transfer.
Choosing Insurance Policies:
In cases where the buyer is dissatisfied with the previous owner’s third-party bike insurance, they can opt for a standalone Own Damage (OD) bike insurance policy, offering comprehensive coverage. However, obtaining at least third-party insurance is crucial to avoid legal issues and financial penalties. *
Upon purchasing a pre-owned bike in Mumbai, it is crucial to complete the ownership transfer promptly to avoid potential e-challans in Mumbai issued by the traffic authorities.
Navigating India’s bike ownership transfer process requires attention to detail and adherence to specific procedures. Completing all necessary paperwork, including insurance, is paramount when purchasing a pre-owned bike. Buyers should proactively gather required documents from the seller and, if not transferring existing insurance, promptly acquire a new policy before hitting the road. Following these guidelines ensures the new bike owner’s smooth transition and legal riding status.
*Standard T&C Apply
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.