Risk Of Selling A Car On Open Papers

[shane6399]

one of my friend wants to sell his car..

some are asking on open papers..

so whats the risk of selling the car on open papers??

will there by any problem if there is an accident??

if so what are the procedures to follow to sell a car on open paper??

does he have to inform the RMV that he sold his car on open paper to someone??

or is it a must to sell the car transferred to his/her's name??

PLS HELP!!

[Edward]

Hi Friend,

Never sell a car with open papers. What is open papers, you are going to only sign in all 4 papers of the MT6 & hand over the keys along with the papers. As far as you are concerned the car is sold, but as per the law, the actual owner is you till the time the car is transfered to the other persons name. You need to fill the first 4 pages, sign accordingly & hand over 2 papers to the new owner ( one of which he has to sumbit to the RMV, along with one of the last two pagers) You need to send one of the first pages to the RMV by register cover & retain the other one with you. These details are available in the cover page.

Let me relate you a true story of a guy who sold his van with open papers. The buyer never submitted the pappers to the RMV. This van was used for a robbery, this poor chap was in the Jail for 4 months. still the case is going on, & he is going to the courts once for 2 weeks plus he has to sign in the police station each sunday, & this van had a finance & the finance company has filed another case againt him.

Even if anyone is willing to pay, much more than the value of the car, do not sell it with open papers.

Edited July 9, 2008 by Edward

[Sha7]

Don’t sell a car on open papers nor don’t keep a car with open papers.

[shane6399]

thanks for the replies guys..

what if he selling the car to a car sale sort of person who buys n sells??

no one wants to keep on changing the ownership..

u know 1st owner.. 2nd owner bla bla..

is a written letter from the buyer is enough saying he so n so baring id card no.. is buying Mr.X's car and will be liable for everything???

or the only way of doing is to register it??

PLS HELP ITS URGENT !!

[shane6399]

experts???

[Edward]

Hi Friend,

If it is me, I will not give the car to a car dealer, because I can sell the car to another user to a better price. Even if I have to give it to a car dealer, I would tell him that I will not give with open papers.

When I bought my first car, I got it from a car sale, but the papers were written to the car sale owners name. I did a double transfer. Therefore I think if you tell hem firmly that you will not give the car with open papers, he may consider that.

My advice is NEVER SELL A CAR WITH OPEN PAPERS

[shane6399]

thx for the replies guyz

[Tilak]

thx for the replies guyz

One my friend sold his car to a car sale & what he did was to fill the forms in the name of the sale owner & agreed to not send copies to RMV till 3 months, if he find buyer within 3 months, to cancel the signed papers & sign a new set of forms in the name of new buyer. I think this fine with seller, car sale & new buyer as all the parties know what is happening. just my 2 cents.