How do register a car from the bank?
You contact the bank via telephone and give them your account number. They will ask you a few questions to verify you are indeed the owner, you then request that they send you the appropriate documentation which enables you register the vehicle
For a smooth transaction it is crucial that you receive the following 4 documents from the bank:
All 4 of these documents are important and serves a particular purpose
- A paid up / settlement letter
- The certificate of registration
- A signed and stamped notification of change of ownership (Yellow form or copy)
- The banks proxies ID
The paid up letter from the bank, this document tells the traffic official that you are done paying the vehicle and the bank has authorize you to proceed with the registration. It also explains the procedure to you and indicates that you have 21 days to submit the documents to the traffic department. Take note that the settlement letter is dated, it is from this date that your 21 days start. Its not common but if you submit these forms after the 21 day period you may be penalized for late registration, it all depends on the mood of the teller so be on the safe side and stick within your 21 day window.
The certificate of registration, this document ties the other 3 forms together. It’s a smart and subtle way of the bank informing the teller, the car is really settled and they are aware of the transaction. You wouldn’t have the original document otherwise!
The Natis NCO form must be signed by the proxy, this form is sent as part of procedure. If the settlement letter is signed and dated then it may or may not be needed. Complete section B and C of the yellow form and take it with you just to be safe.
The ID of the proxy, All Businesses with a business register certificate will have an assigned proxy, their ID needs to be attached to all transactions.
The bank will send you all the forms needed but one, the registration RLV blue form. This can be obtained by the traffic department.
The cost of this transaction is currently R132.00 provided your vehicles license is valid.
When I sold my previous car they (Wesbank) sent the one form already filled in to transfer it to my name and signed by them etc. Seems the licensing department was also not too keen on registering the car straight into the new buyers name but basically the buyer manager to get hold of a manager there, she provided a letter on their letterhead to say it's ok and the buyer successfully registered it straight from Wesbank to himself.I have a bit of a potential dilemma that I may have to sort out for my old man. We are selling a car to some relatives, and it turns out that Nedbank is still the Title Holder even though my father (the Owner) paid off the car like 15 years ago already. So now we have to get Nedbank provide the necessary in order to get my father recognised as the Title Holder...
Has anyone here else had to do similar, and was it a huge pain to get it done? My main concern is that since it's so long ago since the vehicle was paid off, Nedbank potentially could come back and say that they don't have the Registration Certificate any longer or are missing something on their side in order to do the change of Title Holder.
Edit: Ok, just read a message that my father has had to get Nedbank's Enquiries dept to email their Archives dept for documents. Takes usually 7/10 days to get something back.
I'll report back in this thread on how things play out.
Edit2: Oh jeez, I've just read the below, and now Im wondering if we have to do the whole transfer of ownership thing into my father's name (blue form and yellow form) before he can even begin to sell it to the relative (with different blue and yellow forms)!