Change of Car Ownership Agreement Sample

A change of car ownership agreement is an important document that outlines the transfer of ownership of a vehicle from one party to another. Whether you are selling your car to a friend, a family member or a stranger, this agreement serves as proof of ownership transfer and protects both the buyer and the seller from any future disputes.

If you are looking to draft a change of car ownership agreement, it is important to include the following key details:

1. Details of the buyer and the seller: Make sure to include the full names, addresses, and contact information of both the buyer and the seller. It is also important to include the identification details of the vehicle, including the make, model, year, and registration number.

2. Purchase price and mode of payment: The agreement should clearly state the purchase price of the vehicle, the mode of payment, and the date of payment. If the buyer will be making installments, make sure to indicate the payment schedule and the repercussions of failing to make the payments in a timely manner.

3. Condition of the vehicle: The agreement should specify the condition of the vehicle at the time of sale, including any known defects or damages. It is recommended that the buyer inspect the vehicle before signing the agreement to ensure that they are aware of the condition of the vehicle and any potential issues.

4. Transfer of ownership: The agreement should clearly state that the seller is transferring ownership of the vehicle to the buyer and that the buyer accepts the vehicle in its current condition. Make sure to include the date of transfer and any relevant paperwork, such as a bill of sale or the transfer of registration.

5. Liabilities and indemnification: The agreement should specify that the seller is not liable for any accidents, damages, or other incidents that occur after the transfer of ownership. It is also recommended to include a clause that indemnifies the seller from any future claims related to the vehicle.

Drafting a change of car ownership agreement can be a daunting task, but with the right guidance and attention to detail, you can create a comprehensive agreement that protects both the buyer and the seller. It is always recommended to consult with a legal professional to ensure that your agreement complies with local laws and regulations.

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