Transferring ownership of a truck is a mandatory procedure when the vehicle’s owner changes. This not only ensures legal rights for both buyers and sellers but also helps authorities manage vehicles more effectively. This article provides detailed information on the procedures, costs, and important notes for truck ownership transfer.
Why is Truck Ownership Transfer Necessary?
Transferring truck ownership when transferring vehicle rights is mandatory and brings several essential benefits:
- Legalizing Ownership: Helps vehicle owners carry out legal transactions related to assets such as collateral contracts, mortgages for loans, etc.
- Avoiding Fines: Driving a truck without proper ownership registration can result in fines ranging from 2 to 8 million VND according to Decree 100/2019/ND-CP.
- Supporting Authorities: Accurate owner information helps authorities easily contact and investigate in cases of vehicle theft or traffic accidents.
Illustration of the benefits of truck ownership transfer
Truck Ownership Transfer Dossier
According to Circular 58/2020/TT-BCA, the dossier for truck ownership transfer needs to fully prepare the following documents:
- Original truck registration certificate.
- Truck registration book.
- Truck insurance (if any).
- ID card/Citizen identification card and household registration book of both the buyer and seller.
- Bank release document (if any).
- Certificate of single status or marriage certificate (depending on locality).
Illustration of the necessary documents in a truck ownership transfer dossier
Note: The vehicle purchase and sale contract needs to be notarized to ensure legality and avoid disputes.
Truck Ownership Transfer Procedures
Truck ownership transfer procedures are divided into two cases:
1. Truck Ownership Transfer Within the Same Province/City
The process of transferring truck ownership within the same province/city is quite simple, including 5 steps:
- Signing and notarizing the purchase and sale contract.
- Paying vehicle registration tax.
- Submitting the ownership transfer dossier at the Traffic Police Department.
- Paying vehicle registration fees.
- Receiving a receipt to collect the new Vehicle Registration Certificate.
Note: The license plate is usually retained in this case.
2. Truck Ownership Transfer Across Provinces/Cities
The process is more complicated and includes 7 steps:
- Signing and notarizing the purchase and sale contract.
- Paying vehicle registration tax at the new owner’s place of residence.
- Withdrawing the original dossier at the old registration location.
- Submitting the ownership transfer dossier at the new owner’s place of residence.
- Paying vehicle registration fees.
- Receiving a new license plate and receipt.
- Receiving the new Vehicle Registration Certificate and going for re-inspection.
Truck Ownership Transfer Procedures from Company to Individual
This procedure is similar to personal vehicle ownership transfer but requires additional documents from the company, such as:
- Business license.
- Minutes of the members’ council meeting on vehicle liquidation or sale.
- Notarized vehicle liquidation decision.
- VAT invoice.
- Certificate of company seal registration.
Truck Ownership Transfer Costs
Truck ownership transfer costs include:
- Registration tax (before registration): 2% of the depreciated value of the used vehicle.
- License plate change fee: 150,000 – 20,000,000 VND (depending on the case).
- Customs inspection fee: 1,000,000 VND (applied to imported vehicles).
Table summarizing the costs when registering truck ownership transfer
Conclusion
Truck ownership transfer is an important procedure that needs to be carried out according to regulations. Understanding the process, preparing a complete dossier, and grasping the fees will help the ownership transfer process take place smoothly and quickly, ensuring your rights.
