what do i need to sell an old card in the buy n sell market

**_Qwerty_** · November 12th, 2013 11:37 AM

you will need a deed of sale between your wife and her company signed by the corporate secretary, you will also need a secretary's certificate authorizing the corporate secretary to sell and sign in behalf of the company, have these notarized. Then you will need to go to crame to get clearance. Then bring everything to the LTO it was originally registered then ask for transfer of ownership. They will issue a new CR in your wife's name. Then you can sell the car now.

Originally Posted by roycruz

We were able to sell the corolla earlier this year; thanks to those who replied. We still have two cars and we have decided to sell the older honda city since we only need one car for our daily needs.

This is a company-issued car that has been fully paid by my wife and we have the papers to support it. However, we still haven't transferred the registration to her name. May we know if there is a special deed of sale needed for this or will a standard deed of sale suffice?

Thanks ulit!

**roycruz** · November 12th, 2013 02:07 PM

Originally Posted by _Qwerty_

you will need a deed of sale between your wife and her company signed by the corporate secretary, you will also need a secretary's certificate authorizing the corporate secretary to sell and sign in behalf of the company, have these notarized. Then you will need to go to crame to get clearance. Then bring everything to the LTO it was originally registered then ask for transfer of ownership. They will issue a new CR in your wife's name. Then you can sell the car now.

I read before that you can sell a car even if it hasn't been transferred to your name, all you have to do is prepare the original deed of sale (which we have) and a new deed of sale for the buyer. I'm confused. I would appreciate some clarification please. Thanks.

**_Qwerty_** · November 12th, 2013 02:33 PM

yes pwede yan.. palalabasin na 2nd owner lang yung buyer.. so yung deed of sale between your wife's company should be blank.. pero since company car yan.. malabo i blank yun kasi kailangan nga nang secretary certificate aside from deed of sale..

**roycruz** · November 12th, 2013 03:50 PM

Originally Posted by _Qwerty_

yes pwede yan.. palalabasin na 2nd owner lang yung buyer.. so yung deed of sale between your wife's company should be blank.. pero since company car yan.. malabo i blank yun kasi kailangan nga nang secretary certificate aside from deed of sale..

Kumpleto naman kami ng docs from her company coz fully paid na kami. I downloaded a deed of sale template but is not sure if there is a different document for our purpose.

BTW, kailangan ba ilagay sa deed of sale ang mga TIN? Didn't include this on my previous deed of sale but I read some posts about it although wala sya sa template.

Lastly, the car has an active comprehensive insurance until 2014. Do we have to tell the insurance company of the sale?

Thanks!

**dr. d** · November 12th, 2013 04:33 PM

Originally Posted by roycruz

Kumpleto naman kami ng docs from her company coz fully paid na kami. I downloaded a deed of sale template but is not sure if there is a different document for our purpose.

BTW, kailangan ba ilagay sa deed of sale ang mga TIN? Didn't include this on my previous deed of sale but I read some posts about it although wala sya sa template.

Lastly, the car has an active comprehensive insurance until 2014. Do we have to tell the insurance company of the sale?

Thanks!

you have to have original documents indicating that the company sold the wife the car. the corporate secretary should generate these documents. if you do not want to transfer ownership to wifey and then sell the car again, you can do so. just be sure all original documents of sale to wifey, are given to the second buyer. then make a deed of sale between wifey and second buyer. xeroxes of IDs of buyers and sellers, and TIN IDs, are also in order.
as to insurance, inform insurance company of the sale. they will usually require deed of sale. they have "transfer of insurance" service.

btw, if you can have multiple originals, or multiple xeroxes, justin case...

**roycruz** · November 12th, 2013 05:01 PM

Originally Posted by dr. d

you have to have original documents indicating that the company sold the wife the car. the corporate secretary should generate these documents. if you do not want to transfer ownership to wifey and then sell the car again, you can do so. just be sure all original documents of sale to wifey, are given to the second buyer. then make a deed of sale between wifey and second buyer. xeroxes of IDs of buyers and sellers, and TIN IDs, are also in order.
as to insurance, inform insurance company of the sale. they will usually require deed of sale. they have "transfer of insurance" service.

btw, if you can have multiple originals, or multiple xeroxes, justin case...

Thanks for this! We will prepare the docs as suggested :-)