How to Transfer Bike Ownership and Bike Insurance Policy?

How to Transfer Bike Ownership?

If you are planning to buy a second-hand or used two-wheeler, you can check some of the most essential steps about the two-wheeler ownership transfer process below:

• Step 1: Write an application to the Regional Transport Office (RTO) from where your motorcycle is registered.
• Step 2: The bike ownership transfer can only be done under two conditions:
  1. When there is a ready buyer.
  2. When the bike owner is deceased, the legal heir must submit proof (succession certificate/affidavit) along with the application.
• Step 3: Check the timeline within which the two-wheeler insurance name transfer must be completed. You can complete the process either online or offline.
• Step 4: If the owner dies during the process, their heir must complete the ownership transfer.
• Step 5: Visit the Regional Transport Office, complete Forms 29 and 30, and submit them. Along with these forms, submit the RC, Emission Certificate, Valid Bike Insurance Policy, and fitness certificate.
• Step 6: Submit the address proof and three passport-size photographs.

What Documents are Required to Transfer Bike Ownership?

Some of the documents that you must have to transfer the two-wheeler ownership:

• Original Registration Certificate (RC) of the bike
• Pollution & Insurance Certificate (PUCC and bike insurance policy)
• Form 28 is a no-objection certificate. The seller is supposed to submit 3 copies of it to the RTO.
• Form 29 states that two parties sell and buy the bike. There should be 2 copies that are supposed to be submitted to the RTO
• From 30, the buyer has to submit 2 copies of it to the RTO.
• Fitness certificate (if applicable)
• Address proof of buyer & seller
• Passport-size photographs

Documents Required for Transferring Bike Ownership in Case of Owner's Death

• Fill out and submit Form 30 with the chassis print affixed.
• Fill up Form 31
• Fill out Form TCA and TCR for transport vehicles.
• A Death Certificate of the two-wheeler owner
• An affidavit from the successor, succession certificate, and NOC from the bank or financer (if any)
• All valid documents for the vehicle should be submitted. Also, as per Rule 81 of the Central Motor Vehicles Rules 1989, submit the vehicle documents with the registration fee.

Bike Ownership Transfer Fees in India

Once you submit all the above documents to the RTO officer, they will verify all the details and put their signature on the ownership transfer application. You must pay a nominal fee to the respective authority, which will provide you with the acknowledgement slip.

Here is a table showing the standard applicable charges for transferring bike ownership:

*Disclaimer: The fee mentioned above might vary based on the RTO where you are willing to transfer your vehicle.

Other Associated Fee

Apart from the transfer fee, other costs could be involved, such as the fee for submitting address proof.

If the vehicle's buyer resides in the rental home, they must submit a stamp paper from the notary. Along with it is a letter from the HR of their organisation or company stating their current residential address.

Now, let us move forward to the bike insurance transfer from the seller to the buyer.

Transferring Bike Insurance to the New Owner

Every year, motor vehicle companies develop new and advanced bikes that lure you to purchase new models and sell out your old ones. Once you sell your existing bike, you must transfer the bike insurance to the new buyer. Transferring the bike insurance policy to a new owner is important because if the bike meets with an accident in the future, the insurance company will provide financial coverage for the damages caused to the insured vehicle.

Let us understand the process of transferring a two-wheeler insurance policy to another person.

How to Transfer Bike Insurance to a New Owner?

Transferring bike insurance is a crucial step for both buyer and seller. Sellers must know they can retain the accumulated No-Claim Bonus and transfer it to their new policy.

Here are a few steps that you need to follow to transfer two-wheeler insurance ownership:

• Step 1: Visit the RTO office where you registered your bike.
• Step 2: Submit forms 29 and 30 along with RC, two-wheeler insurance documents, emission test papers, and other required documents to the directorate of the RTO. Also, submit your passport-size photo as needed.
• Step 3: Once you submit all the documents and finish the procedure, the RTO will verify them. If everything goes as planned, the bike insurance name transfer will be successful.

Things to Keep in Mind While Transferring Bike Insurance to a New Owner

• If the buyer lives in the same state where you reside, you must transfer the ownership within two weeks (14 days) to the regulating party.
• If the buyer lives in any other state, you must report the insurance transfer to the regulating party within 45 days.
• If the existing owner of the bike dies during the procedure, then the buyer can inform the regulatory party of this within 30 days.

Why Both Transfers Matter?

• Legal Compliance: RC and two-wheeler insurance must match the current owner's name.
• Claim Validity: Claims are payable only if the policyholder is the legal owner.
• Liability Protection: The seller avoids liability for future bike accidents.