When a new car is sold and registered to the new owner, either the owner or the financing company receives its certificate of registration.
Once a vehicle is paid up at the finance institution, they should send the Certificate of Registration to the owner but they often fail to do so.
At this stage the Bank still is and remains the legal Title Holder of the vehicle, but not the owner.
This Certificate Of Registration may be requested from the Bank and can be registered directly into the name of the party who is buying the vehicle, but it must be accompanied by the Copy of ID of the Bank’s Proxy, as well as the paid-up letter and Change of Ownership signed by Bank's Proxy.
If you are selling to a business the Certificate Of Registration alone may suffice for Roadworthy and License and Registration.
If it is an individual who is registering, they may require that the owner register him/herself as the Title Holder first, as it is the bank who is currently Title Holder, and he is the registered owner.
So, the most important issues here are:
Date Liable for first license and registration: Year Model
The reason they say ‘Not year model’ is because there are lots of exceptions, like diplomatic-; police-; imported-; and built-up vehicles.
Title Holder: Legal owner, often the Bank or Business
Owner: The person who is in possession of the vehicle
Also see: REQUESTING OF DUPLICATE CERTIFICATE OF REGISTRATION (Click to go there directly).
Registration Certificate example - Click to Enlarge
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Since 1996 the registration certificate looks like the example below.
Click the image to enlarge.
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The example on below applies to vehicles bought during or before 1996.
Click the image to enlarge.
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