Learn more about Car Registration and Other Liabilities

[lc1]

[SIZE=3]CARMA[/SIZE]
[SIZE=3]Car Registration and Other Liabilities[/SIZE]

[SIZE=3]It seems simple enough. You buy a car firsthand. Over time, you get to use it and drive around the city. But then, a new model catches your eye and you think, what if I sell my old car and buy myself that new one?[/SIZE]

[SIZE=3]That is perfectly fine. So you bring your old car to a used car dealer or put up an advertisement. A buyer comes along, you execute the deed of sale, get paid and say good-bye to the jalopy you used to love. You think the change of name in the registration is just a formality and you leave it to the buyer to take care of it.[/SIZE]

[SIZE=3]Are you home free? No, not totally, because the buyer may not take the time to change the registration papers which remains in your name. And as a result, any ill thing that befalls that car might come back to haunt you, like some bad karma that won’t go away. Dings and dents that it may cause as it wends it way along the roads, including bodily harm or injury, may end up to be your responsibility. Who knows? It might be used as get-away car in a bank robbery, tagged in a kidnapping, …[/SIZE]

[SIZE=3]Under the Insurance Code, a vehicle’s owner is defined as the “actual legal owner of the vehicle, in whose name such vehicle is registered with the Land Transportation Commission.” And it is the owner who should secure motor vehicle liability insurance. …..[/SIZE]

[SIZE=3]Read on at [/SIZE][SIZE=3]http://thelegallyinclined.wordpress.com[/SIZE][SIZE=3] . Feel free to forward the link to your friends and colleagues. And leave some feedback if you can.[/SIZE]

[suv]

Any actual cases dito sa pinas na ang kinasuhan eh yung dating owner?

[combustion95]

[SIZE=3]CARMA[/SIZE]
[SIZE=3]Car Registration and Other Liabilities[/SIZE]

[SIZE=3]It seems simple enough. You buy a car firsthand. Over time, you get to use it and drive around the city. But then, a new model catches your eye and you think, what if I sell my old car and buy myself that new one?[/SIZE]

[SIZE=3]That is perfectly fine. So you bring your old car to a used car dealer or put up an advertisement. A buyer comes along, you execute the deed of sale, get paid and say good-bye to the jalopy you used to love. You think the change of name in the registration is just a formality and you leave it to the buyer to take care of it.[/SIZE]

[SIZE=3]Are you home free? No, not totally, because the buyer may not take the time to change the registration papers which remains in your name. And as a result, any ill thing that befalls that car might come back to haunt you, like some bad karma that won’t go away. Dings and dents that it may cause as it wends it way along the roads, including bodily harm or injury, may end up to be your responsibility. Who knows? It might be used as get-away car in a bank robbery, tagged in a kidnapping, …[/SIZE]

[SIZE=3]Under the Insurance Code, a vehicle’s owner is defined as the “actual legal owner of the vehicle, in whose name such vehicle is registered with the Land Transportation Commission.” And it is the owner who should secure motor vehicle liability insurance. …..[/SIZE]

[SIZE=3]Read on at [/SIZE][SIZE=3]http://thelegallyinclined.wordpress.com[/SIZE][SIZE=3] . Feel free to forward the link to your friends and colleagues. And leave some feedback if you can.[/SIZE]

Reply :IMO kelangan pa yatang ipa-cancel yung name mo sa LTO. Kasi nung bumili kami ng utol ko ng kotse, pinilit ng utol kong kontakin yung 1st owner kasi bale 3rd owner na kami to make sure na walang nakabinbin na kaso yung kotse. Nung makausap nya yung 1st owner ang paliwanag sa kanya kaya nya pina-cancel yung name nya(1st owner) para sakaling magamit sa krimen yung kotse ay labas sya sa liabilities.

[CVT]

So, wala bang legal weight ang hawak mong notarized na Deed Of Sale kung saka-sakali? Hindi ba ito considered na parte ng paper trail sa isang legal na imbestigasyon? Itinatabi ko kasi ito para lang sigurado (na hindi pala base sa diskusyon dito...)

Mahirap naman kasing siguraduhin mong nai-transfer na ng bumili sa kanyang pangalan ang sasakyan.

4707:santas:

[shadow]

I think as long as you have the duly notarized deed of sale, eh ok na, yun lang nga pag nagamit sa crimes eh medyo hassle dahil kasama ka sa investigation, but then if you have documents to back it up na nabenta mo na when the crime took place then, lusot ka na rin...