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Question
Hi I have ZEN Estilo baught it on my name itself on 16-May-2008 now I want to transfer it to my wife name. I also have loan on the car 2.25 lakh. Even I also want to close the loan. So I just want to know that what is the procedure to transfer ownership of car. Thanks & Regards Aftab Alam
By Aftab Alam 10 October 2009
Answers:

dear alam, since you have a loan for the car the car must be hyphothicated to the bank or other finance compnay. You may have to pay the balance to get it reversed. Changing the registration to you wife's name is simple. You need to fill up form at the RTO and pay the necessary fees and submit you RC book. They do the needful

Answer by Sundaram Sridharan 10 October 2009
expert
Expert`s comment:

Hi,
You can close the loan account by paying balance.For transfer of ownership, You have to fill no abjection certificate available in form and later same can be transferred to your wife's name by providing relevant documents like address proof,id proof,PAN number along with original documents of car including emission certificate. It will take about 15 days for the same.

Answer by Shiva Shankar 10 October 2009
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