What Are the Risks of Not Transferring Ownership of a Sedan?
2 Answers
If ownership is not transferred, the person whose name is on the "Motor Vehicle Registration Certificate" will be held legally liable in the event of an accident where the driver flees, even if that person was not the one driving the vehicle. Below are the specific details: 1. Risks of not transferring ownership: After purchasing a used car, it is essential to complete the ownership transfer. If ownership is not transferred, the buyer only has the right to use the vehicle but not ownership, as the name on the "Motor Vehicle Registration Certificate" remains that of the original owner, posing a significant risk to the buyer. 2. Ensure complete documentation: When buying a used car, always check if the vehicle's documentation is complete. If the documentation is incomplete and the transfer cannot be processed, there is no need to proceed with inspecting the car further. If incomplete documentation prevents the vehicle from being legally driven on the road, there is also no need to continue inspecting the car. After confirming the vehicle's documentation, proceed to evaluate its condition and price.
I've been driving for over a decade, and not transferring ownership of a sedan is really risky—it's like a ticking time bomb in daily life. Without the ownership transfer, if you're stopped by traffic police, you might be suspected of driving a stolen car, and even after lengthy explanations, your vehicle could still be impounded. Accidents become even more troublesome; when filing an insurance claim, the insurer checks the owner's details. If it's not you, the claim might be denied, leaving you to cover thousands in repair costs yourself. For annual inspections or insurance renewals, you’d need to contact the original owner. If they’ve moved or refuse to cooperate, you’re stuck. There are even cases where the original owner had debts, leading to the car being seized and auctioned by the court, wiping out all the money you’ve invested. So, when buying a used car, it’s better to spend the time and fees to complete the ownership transfer properly. Don’t cut corners to save hassle and end up with a disaster that leaves you anxious every day.
