Using a second-hand vehicle? Report, transfer registration to avoid up to P40K fine | ABS-CBN
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Using a second-hand vehicle? Report, transfer registration to avoid up to P40K fine
Using a second-hand vehicle? Report, transfer registration to avoid up to P40K fine
ABS-CBN News
Published Oct 20, 2024 11:20 AM PHT
A motorcade of sports cars and motorcycles. George Calvelo, ABS-CBN News/File
A motorcade of sports cars and motorcycles. George Calvelo, ABS-CBN News/FileMANILA — The Land Transportation Office (LTO) will penalize sellers and buyers up to P40,000 for failing to report sales and transfer vehicle registrations within days of the transaction, a policy that could affect thousands using secondhand cars and motorcycles.
MANILA — The Land Transportation Office (LTO) will penalize sellers and buyers up to P40,000 for failing to report sales and transfer vehicle registrations within days of the transaction, a policy that could affect thousands using secondhand cars and motorcycles.
According to the LTO order dated August 30, 2024, the seller must report the sale of the vehicle within five days of the actual sale through an online submission.
According to the LTO order dated August 30, 2024, the seller must report the sale of the vehicle within five days of the actual sale through an online submission.
The requirements for online submission include the Original Official Receipt and Certificate of Registration (ORCR) of the motor vehicle, a duly notarized Deed of Sale or any Deed of Conveyance, and two valid government IDs from both parties.
The requirements for online submission include the Original Official Receipt and Certificate of Registration (ORCR) of the motor vehicle, a duly notarized Deed of Sale or any Deed of Conveyance, and two valid government IDs from both parties.
Failure to report will result in a P20,000 fine for the seller.
Failure to report will result in a P20,000 fine for the seller.
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Meanwhile, the new owner must process the registration and transfer of ownership of the vehicle within 20 working days from the date of sale.
Meanwhile, the new owner must process the registration and transfer of ownership of the vehicle within 20 working days from the date of sale.
The requirements for the transfer of ownership are the following:
The requirements for the transfer of ownership are the following:
- Notarized Deed of Conveyance
- Notarized Deed of Conveyance
- Original OR/CR issued by the LTO
- Original OR/CR issued by the LTO
- Valid original Philippine National Police - Highway Patrol group (PNP-HPG) Motor Vehicle Clearance Certificate
- Valid original Philippine National Police - Highway Patrol group (PNP-HPG) Motor Vehicle Clearance Certificate
- Duly accomplished Motor Vehicle Inspection Report (MVIR) or Private Motor Vehicle Center (PMVIC) Inspection Report
- Duly accomplished Motor Vehicle Inspection Report (MVIR) or Private Motor Vehicle Center (PMVIC) Inspection Report
- Proof of electronically transmitted appropriate insurance Certificate of Cover, if motor vehicle is due for renewal
- Proof of electronically transmitted appropriate insurance Certificate of Cover, if motor vehicle is due for renewal
- Secretary's Certificate, if motor vehicle or motorcycle is owned by a corporation
- Secretary's Certificate, if motor vehicle or motorcycle is owned by a corporation
Failure to report and transfer vehicle ownership will also result in an "alarm tag" being placed on the vehicle or on the driver's license of the seller, which will hamper transactions like registration and license renewal.
Failure to report and transfer vehicle ownership will also result in an "alarm tag" being placed on the vehicle or on the driver's license of the seller, which will hamper transactions like registration and license renewal.
The process of transferring ownership involves visits and payments to different government agencies and can take several days, with the time and cost discouraging proper registration and transfer under the law.
The process of transferring ownership involves visits and payments to different government agencies and can take several days, with the time and cost discouraging proper registration and transfer under the law.
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