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Hello, I am planning to sell my old Maruti Car to one of friend of mine. Price is finalised but he is insisting me to transfer RC, Road Tax and insurance in his name as a part of deal. Can you please help me out - how to go about transferring the insurance of the car to my friends name?
You can transfer the insurance policy to buyers by informing the insurance company within 14 days from the date of sale of the vehicle. Insurance companies charge a nominal transfer fee.
For transferring the ownership of the car, you would have to fill and submit following forms to RTO -Quote:
Originally Posted by mintz
Form 29
Form 30
The forms have to be filled up and both of the parties (buyer and seller) would have to sign and the buyer would have to submit them at the local RTO with the Original Registration Certificate and attested photocopies of Insurance, proof of address and Identity proof. The seller will get the acknowledgement of the transaction from the RTO within a week and the buyer will get the new RC in next 15 days.
After transferring the RC, follow the procedure of transferring the insurance as told by Expert.
Please let me know if you have any questions on the same.
Hope this helps
Thank you guys for all the details.