Form 36 is filled out by the financier when the vehicle owner fails to make the loan repayment. It is an application through which they can request the Registering Authority or RTO to transfer the registration of the motor vehicle to their name and issue a fresh Registration Certificate (RC). Read on to learn how you can download and fill out Form 36 for a repossessed vehicle.
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Form 36 is the application form for issuing a fresh registration certificate (RC) in the name of the financier. It is used by the financier when the vehicle owner is unable to pay the loan. It is submitted to the concerned RTO by the financier itself.
Given below are the details included in RTO Form 36:
Check out the steps below to download Form 36 from Parivahan Sewa:
The steps to fill out Form 36 are as follows:
As per the Motor Vehicles Act, 1988, you need to submit the original RC of the motor vehicle (if surrendered by the registered owner) to the registering authority with an application in Form 36. However, the exact list of required documents may vary depending on the registering authority.
Form 36 is important for the financier to protect their financial interests in the event of a hire-purchase/lease agreement default. Some of the important aspects of Form 36 are as follows:
The RTO may reject the Form 36 application due to the following reasons:
RTO Form 36 is an 'Application for Issue of Fresh Certificate of Registration in the Name of the Financier'. Financiers use this form to get the registration certificate of a vehicle transferred to their name if the registered owner has defaulted on the pending loan amount.
Go to the Parivahan Sewa website to download the RTO Form 36 online. From the 'Informational Services' tab in the navigation bar, select the option for 'Downloadable Forms'. Now, from the list of forms available, click on 'Form 36' to access and download it.
The original RC of the vehicle is required with an application in Form 36, in cases where the registered owner has surrendered it. However, you must confirm the exact document-related requirements from your registering authority.
Form 36 includes details about the registered owner, vehicle, reason for the fresh application, financier, application fee, and registering authority.
Financiers send a legal notice to the borrower in case of defaulted car loan repayments. Further non-payment leads to repossession of the financed vehicle to recover the remaining loan amount.
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