This is with regards to one of the old vehicle that we have (maruti Van) which was bought in 1994.
- The same was bought in the name of my maternal grandmother and the vehicle was financed through a financial institution called - Manipal Finance.
- The loan has been repayed by my father to the financial institution but the document has not been collected for the repayment of the loan.
- This financial institution (Manipal Finance) has closed down since long back and my grand mother also has expired - who is the official owner of the vehicle.
- Neither can we get the documentation of the loan cleared from the financial institution nor can we get the transfer of the ownership done as my grandmother in no more.
This vehicle is with us since many years in an un-used condition. We would like legally dispose this vehicle - by either selling this vehicle or scrapping this vehicle by selling it to the scrap dealer.
Asked 4 years ago in Civil Law from Bangalore, Karnataka
sell it for scrap . you must be having evidence of loan repayment by cheques . on your grand mother death vehicle can be transferred in favour of your father on receipt of NOC from other legal heirs
After the demise of your grand mother your father and his siblings are the owners of vehicle and all of them could have got it transferred to their name by applying to RTO. Sell it for scrap now.