Transferring car ownership in Pakistan involves several steps to ensure a smooth and legal transition. Here is a step-by-step guide:
- Sale Agreement: The seller and buyer need to draft a sale agreement outlining the terms of the transaction, including the sale price, vehicle details, and any other relevant conditions.
- Transferor and Transferee’s CNIC Copies: Both parties should provide copies of their Computerized National Identity Cards (CNICs) or other valid identification documents.
- Original Registration Certificate (RC): The seller must provide the original Registration Certificate (RC) of the vehicle to the buyer.
- Form F: The seller should obtain and fill out Form F from the local Excise and Taxation office. This form serves as an application for the transfer of ownership.
- Token Tax Clearance: The seller must ensure that all token taxes are up to date and clear any outstanding dues before transferring ownership.
- Transfer Fee Payment: Both the buyer and seller need to pay the transfer fee at the Excise and Taxation office. The fee amount varies depending on the vehicle’s engine capacity.
- Vehicle Inspection: Some regions may require a vehicle inspection to verify its condition before transferring ownership. Ensure compliance with any local regulations regarding vehicle inspections.
- Visit Excise and Taxation Office: Both parties should visit the local Excise and Taxation office with all the necessary documents, including the filled-out Form F, CNIC copies, original RC, and proof of token tax clearance.
- Verification and Documentation: At the Excise and Taxation office, the documents will be verified, and the transfer of ownership application will be processed. Once approved, the new Registration Certificate will be issued in the buyer’s name.
- Obtain New Number Plates: The buyer will need to obtain new number plates for the vehicle, registered under their name, from the relevant authorities.
- Stamping and Notarization: It is advisable to get the sale agreement stamped and notarized to ensure its legal validity.
- Insurance Transfer: The buyer should also transfer the vehicle’s insurance policy to their name to ensure coverage.
- Change of Ownership Notification: After completing the transfer, notify relevant authorities such as insurance companies, traffic police, and any other pertinent organizations of the change in ownership.
By following these steps meticulously, both the seller and buyer can facilitate a seamless transfer of car ownership in Pakistan while complying with legal requirements and regulations. It’s essential to consult local authorities or legal experts for any specific rules or procedures applicable in your region.