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Location TN 01(Chennai, Tamilnadu)
My Gixxer SF is currently in my father's name and I want to get it changed to my name. I am the only person who uses this bike and cops hellbent on bribes are asking me for an NOC which needs to be on a stamp paper and is valid only for so many months...(not really sure about the validity, one of the cops told me this)
According to the internet, my father can either "sell" the bike to me, or gift it to me.
Can someone enlighten me on either of these processes?
What happens to the insurance?(valid till November 2020) The vehicle currently has 0% NCB, if the ownership has changed, will I be able to get NCB during the renewal?
And how do I intimate to Suzuki that the ownership has changed?
(My father's name keeps popping up on the bills)
By the transfer of ownership from him to me, will the resale value of the vehicle be hit, since it becomes a third hand sale now?(when I actually sell the vehicle)
Also can I do this on my own? Or should I get the services of a broker?
I'm a college student, I don't mind spending 2-3 days at the RTO, but if it ends in me hiring a broker, I would preferably do it through him itself in the first place.
My Gixxer SF is currently in my father's name and I want to get it changed to my name. I am the only person who uses this bike and cops hellbent on bribes are asking me for an NOC which needs to be on a stamp paper and is valid only for so many months...(not really sure about the validity, one of the cops told me this)
According to the internet, my father can either "sell" the bike to me, or gift it to me.
Can someone enlighten me on either of these processes?
What happens to the insurance?(valid till November 2020) The vehicle currently has 0% NCB, if the ownership has changed, will I be able to get NCB during the renewal?
And how do I intimate to Suzuki that the ownership has changed?
(My father's name keeps popping up on the bills)
By the transfer of ownership from him to me, will the resale value of the vehicle be hit, since it becomes a third hand sale now?(when I actually sell the vehicle)
Also can I do this on my own? Or should I get the services of a broker?
I'm a college student, I don't mind spending 2-3 days at the RTO, but if it ends in me hiring a broker, I would preferably do it through him itself in the first place.
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