How to Transfer Car Ownership Philippines?

0
190

Here’s a step-by-step guide to purchasing a used automobile or shifting ownership to others for any reason.

Both the Official Invoice and the Certification of Registrations for your car have a signature. The names on such papers identify the legal owner of the car. Do you want to purchase somebody else’s automobile?

You’ll get the identity on CR changed to your identity, and afterward, the OR changed to your name. Such a procedure may take some time and work, but it will be well valued when you drive away in a car that’s also genuine to claim your own.

Car
Car

Prepare the necessary documentation.

A deed of sale is a legal document that documents the sale of a property.

A purchase contract is the first paperwork you’ll need to create. Ensure you have this information before purchasing a secondhand automobile from the proprietor. Their name shows just on OR/CR. This contract will be delivered to you and function as the legal paperwork for the deal, which all sides must sign.

Identity photocopies and signings.

Aside from that, you’ll have to bring identification with you. That implies you’ll need at minimum three separate IDs, one of which should be government-issued documentation. In addition, obtain triple photocopies of such documents with the purchaser and their signature because it’ll be required for the transference and clearing processes.

PNP-HPG approval is required.

Some other thing you’ll need to accomplish in this situation is to obtain authorization for the PNP-HPG groups. To obtain this authorization form, gather the following information.

  • Transfer of loan automobile in a sale deed.
  • OR/CR of the car.
  • Loan discharge, discharge, or takeover for mortgaged cars.
  • If the car had been a company-owned automobile, a Secretary’s Certification was required.
  • Powers of Attorney for Specific Purposes.
  • MVIR was completed.
  • CR/OR verification (if issued by other LTO agencies).
  • The Insured Company’s Approval to the Incoming Purchaser.
  • The Taxpayer Identity Card (TIN) is a number that is assigned to you as a taxpayer (TIN).

Transactions.

When you trade, double-check everything. It includes that each of your documentation is in place and brought the car you’ll be altering the ownership of with the LTO local office’s transactions slot for comparison purposes.

  • Certification of PNP-HPG Approval
  • Authentic Registration Certificate (CR).
  • Genuine Certified Receipt from the most recent transaction.
  • The Initial Sale Agreement.
  • Adequate insurance coverage.
  • The Taxpayer Identity Card (TIN) is a unique number assigned to each taxpayer.
  • MVIR (Automobile Inspections Record) completed and authorized.
  • After you’ve finalized most of this paperwork, go to your chosen LTO office’s proper transactions desk.

Inspection.

The inspector would evaluate your car again to ensure that all of the information on the paperwork is accurate.

Payment.

After that, you must take the paperwork and other stuff to the relevant station, where you must also deposit for the identity transfer. Before you buy, the assessor will tell you how much it will cost.

Costs are estimated.

P10 for investigative work, P50 for change of ownership, and P159.06 for computer fees.

Total calculated P229.06

All documentation should be received and photocopied.

Afterward, all you must do is wait for your papers to arrive and have them duplicated. Photocopying devices are generally located near or even in the workplace. Therefore, they could duplicate your papers for a nominal price.

Our recommendation is to obtain several photocopies of your OR/CR needs, with a few extras. While keeping these papers at home, it’s also good to keep them in a secure location.