Nominee will now have to pay for car and bike too! Learn about the New Testament

After the death situation, the nominee will have to inform the local RTO within 30 days.

After the death situation, the nominee will have to inform the local RTO within 30 days.

Till now this process was extremely disturbing as the family member has to transfer the ownership in the name of the legal heir, for which many offices had to be rotated.

New Delhi. The way it is mandatory to name the Nominee in an insurance policy or bank account so that the money can be transferred to the next of kin after death. It is going to be mandatory to mention the nominee at the time of vehicle registration in days. Ministry of Road and Transport (The Ministry of Road Transport and Highways) Has recently approved the Central Motor Act 1989 (Central Motor Vehicles Rules, 1989.). After which now the vehicle owner has to add his nominee in the registration certificate so that after the death of the person, the vehicle can be made in the name of the vehicle nominee in the owner transfer. Till now this process was extremely disturbing as the family member has to transfer the ownership in the name of the legal heir, for which many offices had to be rotated.

The vehicle owner will have to clear about the nominee when he has purchased the car or has purchased the car, then in that case later on. For this, he will have to put documents of his identity along with the name of the nominee. After which, after a situation like death, the nominee will have to inform the local RTO within 30 days. Along with this, the nominee will have to give Form 31 within three months of death so that the vehicle can be owned in his name.

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Can also be removed Nominee

It is not that the person you are making a nominee will remain the nominee forever. If you want, in a special situation, for example, if you have made a husband or wife a nominee and both are getting divorced or have become, then you can remove or change the nominee in this situation. In the same way even if the property is divided, but not when you are selling the vehicle.

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What if the car is on loan

If the person who has died and has taken a vehicle loan, in such a situation, he will have to repay the loan taken to the bank or institution taken, only then the vehicle can be transferred in his name. Because only then the bank will issue the NOC i.e. No Objection Certificate which will be necessary for the transfer of ownership in the RTO.




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