A car ownership change refers to the legal transfer of the owner’s rights over a vehicle between two individuals. Vehicle change of ownership also occurs between pre-used automobile dealerships and their buyers. It prevents wrongful property claims or theft.
A vehicle’s registration must be in its current owner’s name for a minimum of six months before a change of ownership can take place.
The Federal Road Safety Corps (FRSC) states that the process of car ownership change cuts across the Vehicle Inspection Office, Vehicle Licensing Office, Vehicle Registration Office, and Raters and Taxes Office
For a vehicle ownership change to happen, the current owner of the car must provide these documents:
A Form MVA 5 is a form that a vehicle’s owner must fill out to inform the vehicle registration body that the vehicle has a new owner now.
The core information needed is the full name, birth date, valid means of identification, occupation, residential and commercial address, vehicle type and model, engine size, and manufacturing date.
After submitting all the necessary documents, a mandatory processing fee is paid. It costs N5,000 or more. The change of ownership process is done within 5 to 10 days.
As the new owner of the vehicle, once you receive the latest documents, download Whistle and sign up to verify the authenticity of your documents.
If you have gone through the car change of ownership process before, share a tip or two in the comments.
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