Is it legal to do this, providing you have the ownership signed over by the registered owner and the UVIP?
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Is it legal to do this, providing you have the ownership signed over by the registered owner and the UVIP?
I didn't find anything specific to that, but apparently you're supposed to buy a Used Vehicle Information Package for it (I didn't get one for the ZZR, so I don't know how compulsory that is). I think so long as the ownership is signed, you're good to sell. However, you have to provide the buyer with a receipt. There's going to be a bit of a signature discrepancy there. Hmmm...
http://www.mto.gov.on.ca/english/dan...cle/used.shtml
Done it twice now .. as long as your up front to the buyer about it.
The MTO wont know any difference either.
Quote:
Originally Posted by infernobuster
I did the same thing. Bought a bike in October, got a ridiculous insurance quote so i never bothered to register it in my name. spring time came and when i found a serious buyer I told him it wasn't in my name before he came to take a look and pick it up.
He didn't care and forged the sellers signature on the receipt for me.
Be honest. its been a year now and I haven't heard back from the buyer.
Thanks for the input! There's no funny business going on here and I realize it may look suspicious to some buyers. I'm just flipping a bike that I know I can buy and make some $$ on because the seller doesn't want the hassle. I just don't see the sense in the DMV getting tax paid twice in the span of a month or. I also don't want to register it in my name when I have no intention of insuring or riding it. It's a good point about the bill of sale though. Not sure if the DMV would ask questions if the name on the registration and bill of sale didn't match. May be able to arrange for the original owner to sign a bill of sale to the person buying from me at the price they are selling it to me for, which would also help the second buyer as the paid price will be lower.
So, don't leave your ownership in your bike?
lol - not with the transfer portion signed anyway!
I'll let you all on a little secret. The only piece of paper the MTO really cares about is the owner's transfer portion of the registration. As long as it's signed, you're golden. If you're not sure you're keeping the bike, don't fill out the rest of it (buyer's name, date, etc.). That way if you flip the bike without changing registration, the second buyer is free to put down his name or leave it blank. You don't even need a signed UVIP, you can buy it at the same time when registering and declare purchase price. Or you can have original seller sign a bill of sale and leave out the buyer's name until a buyer wants to register it.
...
Just keep in mind that the MTO randomly selects private sale vehicle transfers to verify the sale amount. I received a letter from MTO for a trailer that I sold and was required to report the sale amount within a specified time frame. I assume they use my report to verify the amount recorded at the MTO office when the ownership was changed.
Legal? No, you cannot sell a vehicle that you are not the registered owner of. That's why people in this thread, and elsewhere, make comments about 'forging' signatures.Quote:
Originally Posted by Green Meenie
The SELLER is required to obtain the UVIP. It's also the law.Quote:
Originally Posted by stormcat
Do people always follow the law in these cases? Undoubtedly not but remember that if you don't follow the law, you don't have its protection.
You make it sound like you can go to jail for this. Happens all the time, especially with old bikes.Quote:
Originally Posted by Rob MacLennan
You Probably wouldn't go to jail but
The buyer runs they risk of the original registered owner reporting the bike stolen and getting the bike back. I would never buy a used bike without a UVIP and signature of registered owner.
Perhaps you should have quoted my entire statement, rather than picking and choosing, hey?Quote:
Originally Posted by RetroGrouch
Just off the top of my head...
The guy who is listed as the legal owner could end up being on the hook for an uninsured crash, that could cost him a million dollars (I know someone that this happened to).
The guy who buys the bike could get pulled by police, because the guy who sold him the bike reported it stolen after the sale.
The guy who bought the bike could end up finding out, the hard way, that there's a couple of thousand dollars worth of lien on the bike.
The bike could be a complete dud and you've got no proof of who sold it to you, and so have no recourse against him.
I'd say at least half of my bikes weren't bought from the original registered owner and I've successfully registered them in my name without any issues.
Lucky you. Doesn't mean that it's legal, which was the original question asked.Quote:
Originally Posted by RetroGrouch
-http://www.mto.gov.on.ca/english/dandv/vehicle/used.shtmlQuote:
As the new owner, by law you must register your used vehicle within six days of the sale.