need help with transfering of ownership

[kosmos]

hi,

 

i have a qsn regarding this. muz the buyer have his driver's license b4 he is able to transfer the bike to his name? anyway i am the seller and the buyer is waiting for his tp. so he is asking if he can have the bike transfered to his ownership b4 he get his license. is this possible?

[joajas]

There are 2 ways to go about this.

 

The buyer needs insurance and road tax to transfer the bike under his name. But he need a valid license to get his insurance. He can get someone with a valid license to get the insurance and add him as the sub rider. Then with the insurance, IC and all necessary documents (check LTA website) you can do the transfer.

 

Another way is to do a lay up for the bike while doing transfer. The buyer do not need any insurance and road tax to do the transfer. Just fill up the transfer of ownership form and layup form. Prepare the transfer fee and layup fee. Both of your proceed to LTA with your ICs and you can do the transfer + layup on the spot.

 

All necessary information is on the transfer of ownership form and layup form.

Go download this 2 forms from the lta website and read through them.

 

Just take note that during layup, the buyer is not allowed to use the bike. The buyer has to get season parking if necessary. To remove layup, get a tow truck and tow the bike for inspection then tow bike back to parking location after inspection. When inspection pass, the buyer just need to buy insurance and road tax and he will be able to ride the bike on the road with valid insurance, license and road tax.

 

Hope this helps.

[kosmos]

but he don have license yet can add as sub rider meh??

 

second qsn, the road tax i just renewed so if lay up the road tax is wasted?

[joajas]

Regarding the sub rider thing, I am not very sure also, that's wat my insurance agent told me.

 

I did my bike buying via the transfer and layup method.

 

You can check if lta will return the balance months of road tax to you.

 

For my case, the road tax starts after my start of layup date, that road tax was refunded to me via cheque, I refunded the seller using cash because he renew the road tax before transfer, and the new road tax starts after date of transfer and laup.

 

You can call lta to check on your scenario.

 

We can only advice you on what method we used. Everyone faces a different scenario. The most reliable way is to call lta's hotline and check with them. That's what I did and you can't go wrong with their advice.