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Advice on transfer of car ownership

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Advice on transfer of car ownership

Post by ericsoon72 on 10th March 2010, 3:38 am

Dear forumers,

I would like to seek your advice on this matter, will greatly appreciate your kind help. Very Happy

My kia forte was bought under my dad's name last year and the car insurance is also under his name. I would now like to transfer full ownership of the car from his name to mine. I would like to ask:

1. Currently we are using AIG car insurance. What are the procedures to transfer the insurance to my name so that I will be paying for it?

2. How to transfer the car ownership to my name, i.e. only I can have the authority to handle any transactions pertaining to my car?

I'm not sure if I have left anything out, please tell me if there are more details. Thank you very much for your advice.

ericsoon72
Junior Member


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Re: Advice on transfer of car ownership

Post by pessimizt on 10th March 2010, 8:18 am

I think the bank (Maybank?) and insurer (AIG) will be a better person to check with pertaining to procedures / fees / documents required. Cheers.
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pessimizt
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Re: Advice on transfer of car ownership

Post by alpineccm on 10th March 2010, 8:32 am

You can refer to the OneMotoring website on how to do a ownership transfer.

Ownership Transfer

Before you go to LTA to do the transfer, you'll have to purchase a new car insurance for yourself. Just tell the insurance company you are buying a 2nd hand car.

After that you'll have to complete the ownership transfer form, go down to LTA with your father and pay the transfer fee to complete the ownership transfer.

Once the ownership transfer is completed, your father will be able to inform the insurance company to cancel his insurance. Any balance of the insurance will be pro rated and returned back.
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alpineccm
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Re: Advice on transfer of car ownership

Post by ericsoon72 on 10th March 2010, 3:27 pm

thanks for all the replies.

would like to ask 2 more questions:

1. Are we allowed to transfer the default cerato forte AIG insurance if it is less than 1 year?

2. Are we allowed to switch to another insurance type (non-AIG) if it is less than 1 year?

Thanks for your help!

ericsoon72
Junior Member


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Re: Advice on transfer of car ownership

Post by JuanST on 10th March 2010, 3:33 pm

1. car insurance is tied to the person that bought it....
his risk may not be same as ur risk.... so probably not

2. there shud be no law that u cannot buy a new insurance.
u will also need to buy a full year insurance.
the only problem is that if u terminate aig insurance, they may not refund u the cost of the remaining months.
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Re: Advice on transfer of car ownership

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