Vehicle Ownership Transfer

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Posted

Hi,

 

I need some advice on the true cost of transfering ownership.

 

The vehicle (2014 Toyota Frontera) is currently owned by an Filipino. We want to transfer it's ownership to our company.

 

When we ask we get quoted costs of between 7.5% & 2 % of the care value (+/-$30,000)

 

Does anyone know what exactly has to be done to do the transfer & the fees involved?

 

Thanks

 

William

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  • 2 weeks later...
Posted

Hi Mike,

 

Thanks. About what I thought too

 

Cheers

 

William

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  • 7 months later...
Posted

I am looking for advise on the documentation and procedure required for the transfer of ownership of a second hand car to the about to be new owner , me.

 

I have the following noted but would appreciate confirmation :

 

Original Certificate of Vehicle

Original Receipt of Registration.

Deed of Sale - sales agreement - is this required to be notarised and if so who normally covers this cost ?

Copy of buyers and sellers ID - is this to be signed three times and or are three copies required ?

Receipt from the seller to the buyer for monies paid.

 

I assume one goes to LTO to have the vehicle checked for its legal and roadworthy status and from there to the lawyer to have a Deed of Sale notarised and lastly back to LTO to have the vehicle registered to the new owner.

 

Is there more ?

 

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Posted
Deed of Sale - sales agreement - is this required to be notarised and if so who normally covers this cost ?

 

As the seller of a vehicle, it was up to me to provide the buyer with a notarized deed of sale before he would pay me.  I do not know if he also paid the lawyer of if I was the only one to pay.

 

As the buyer of a vehicle, the seller gave me a signed deed of sale and said he could not be bothered to get it notarized and the price was good so take it or leave it.  I took the deal and found a lawyer who would notarize it without speaking to the seller.

 

So it seems to me it is whatever the buyer and seller negotiate.  Depends how bad he wants to sell and how much you want to buy.  Its only 500 pesos though, so if you can manage it have the seller get it notarized and pay the bill for him.  Much simpler that way.

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Posted

Thanks Dave.

 

Do you have any idea how one establishes if there are liabilities or liens against the vehicle ?

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