New Delhi. Just as it is mandatory to give the name of the nominee in the insurance policy or bank account so that after the death of the person money can be transferred to his family members. In days, it is going to be mandatory to mention the nominee at the time of vehicle registration. Ministry of Roads and Transport (The Ministry of Road Transport and Highways) has recently passed the Central Motor Act 1989 (Central Motor Vehicles Rules, 1989.) has been changed. After which now the vehicle owner has to add his nominee in the registration certificate so that after the death of the person, the vehicle can be named in the name of the nominee in the owner transfer. Till now this process was very troublesome as the family member has to get the ownership transferred in the name of legal heir, which also required several rounds of offices.
The vehicle owner will have to clarify about the nominee when he has bought the car or has already bought the car, in that case later. For this, he will also have to submit his identity documents along with the name of the nominee. After which, after the death-like situation, the nominee will have to inform the local RTO within 30 days. Along with this, the nominee will also have to submit Form 31 within three months of the death so that the ownership of the vehicle can be in his name.
can also be removed Nominee
It is not that the person you are making a nominee will be a nominee forever. If you want, in a special situation, for example, if you have made Husband or Wife a nominee and both are getting divorced or have happened, then you can remove or change the nominee in this situation. Similarly, even if the property is being divided but not when you are selling the vehicle.
What if the car is on loan
If the person who has died and has taken the vehicle on loan, then in such a situation he will have to repay the loan to the bank or institution taken loan, only after that the vehicle will be transferred in his name. Because only after this the bank will issue NOC i.e. No Objection Certificate which will be necessary for the ownership transfer in RTO.