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Transfering ownership of a bike

Discussion in 'Politics, Laws, Government & Insurance' started by Bogus69, May 18, 2005.

  1. When buying privately how do you transfer title for a bike?
    The vicroads rego transfer says that it is not an ownership transfer.

    Would I be best to simpley get the seller to write up a receipt?
  2. The transfer of title is generally a verbal contract between the buyer and seller.

    I think it's a good idea to get a receipt in case there's any dispute, especially if there are any unusual details about the sale.

    However, the verbal contract is probably strong enough when supported by evidence of your payment, signed vicroads form, etc
  3. so if u pay in cash there isnt any real evidence of the transaction???
  4. Yeah, but as you say a receipt is always good too.
  5. Thanks.

    I will type one up on the computer and ask them to fill it in.

    I have a bike to buy!
  6. Bogus,
    A reciept usually is good,
    Does not have to be flash,
    Just needs to state the sellers name, rego number and or engine and frame numbers,
    I prefer to have reciept with, frame and engine numbers,
    just to be on the safe side,
    And get it signed by the seller.
    To quote, "A verbal contract is as good as the paper it is written on"
  7. Seller to provide:
    Bike with RWC
    WRITTEN sales contract with details of both parties and bike details/ price.
    VicRoads (substitute other States authorities) transfer form filled out and signed by BOTH parties.

    Buyer to provide to Vicroads within 7 days of purchase:
    Transfer form
    Buyers License
    $$ for transfer and stamp-duty
  8. When I sold my bike I did not do anything like a sales contract, all I did was fill in my part of the viroids transfer form gave it to him and also RWC. all he gave me was a wad of cash that ive never seen so much before in my hands
  9. within 14 days is what the vicroads form says.

    edited spelling :S
  10. As a solicitor i would recommend:

    1. You have an agreement signed by both parties. The Agreement can be something simple like:

    "// agrees to sell and // agrees to buy the // with registration number // and VIN plate number /// for the agreed price of //.
    // warrants that he/she is the registered propreitor of the bike.
    The agreement is subject to // providing // with a roadworthy certificate and a signed transfer form"

    2. You take down the details of the sellers and confirm these details by siting his drivers licence.

    3. You ring Vicroads before the sale and do a check with the rego and Vin number to ensure the bike isnt stolen and has no finance owing on it.
  11. slightly off topic, but if i wanted to give (i.e. no cost) a bike to my sister, she would obviously have to pay the transfer fee but what would happen re: stamp duty?

    this is a question for the guys in NSW btw...
  12. stamp duty would still apply as far as i know. I think there are exceptions for spouses transferring vehicles... may pay to check the website or something.
  13. What's a buyer's licence & a sales contract?

    I've sold 7x bikes through the trading post to private buyers. A signed receipt of payment with bike rego (or serial number) quoted & associated RWC/VicRoads forms where required (not required where bikes aren't sold with rego).

    Some road bikes are sold without rego (plates turned in & rego suspended), but that'sd heaps of stuffing around ofrthe buyer. (my bro sold his GPZ900 like this & I thought that kinda being arsey).

    Bike sold without rego is just a transfer of goods for payment, like buying bread or milk from the shops. No biggie about receipts/ownership papers.
  15. not sure about NSW but in VIC you have to pay stamp duty on the market value of the bike if it is less the sale price. you're probably better off (financially) leaving it in your name.