Bike ownership transfer is a legal procedure that results in complete transfer of rights of the vehicle to the new buyer. It involves obtaining a few necessary documents like RC, PUC, NOC, etc. through transfer initiation. Filling out all necessary forms and obtaining relevant certificates helps to complete the transfer process along with the subsequent Transfer Vehicle Registration Certificate (TVRC) issuance.
You can thus acquire legal possession of this bike so purchased. TVRC is a mandatory requirement for owners of a second-hand bike, whether for riding it or purchasing a two-wheeler insurance policy. Now, the bike ownership transfer can occur in two ways: Transfer within the state,Transfer from one state to another The process of two-wheeler ownership transfer is two-way, meaning it needs to be initiated from both the seller as well as buyer’s end. Transfer of a bike’s ownership involves the submission of all necessary documents to affect ownership transfer from the previous owner to a new owner. Absence of any document can obstruct process completion and lead to a delay in transfer.
Check out the following steps to complete this transfer process –
Step 1 – Submission of transfer application: An application of transfer must be submitted to the RTO where a two-wheeler is registered initially. The seller ideally submits such application. For transfer due to owner’s demise, it should be initiated by the new owner to whom it will be transferred.
Step 2 – Document handover: During the transfer of two-wheeler ownership, a seller must hand over all necessary documents listed above to the buyer for a successful transfer.
Step 3–Intimation to the RTO: Consequently, the sale must be intimated to respective RTO by the seller as well as a buyer within a specified time.
Once all documents are transferred from the seller to buyer, the process is complete. Check out a few pointers to take care of during the transfer process.
For bike ownership transfer to be completed within a state, the concerned authority should receive intimation of such transfer within two weeks. For inter-state transfer, such information should be provided within 45 days.
A buyer must also inform the concerned authority of such transfer within 30 days of transfer completion.
Reference: Sale of Goods Act, 1930 motor vehicles act