The buyer of a vehicle must transfer ownership and registration:
Answers
By the end of the year.
Before the license plate expires.
Within 15 days from the date of purchase.
Within 60 days from the date of purchase.
The correct answer and explanation
The correct answer is Within 15 days from the date of purchase.
In most jurisdictions, when a vehicle is sold or transferred, the buyer is required to transfer the ownership and registration to their name within a specific period after the purchase. The general rule is that the buyer must complete this process within 15 days from the date of purchase. This timeline allows both the buyer and the seller to ensure that the vehicle’s legal ownership is updated with the relevant authorities, such as the Department of Motor Vehicles (DMV) or the equivalent agency.
The reason for this time frame is to ensure that the vehicle’s legal status is properly maintained. Without completing the transfer, the buyer may face issues regarding liability, insurance, and potential penalties. If the transfer is delayed, the buyer might not be legally recognized as the owner of the vehicle, which could lead to complications such as traffic tickets, accidents, or registration-related fees that are still attributed to the seller.
Additionally, transferring ownership and registration promptly helps to protect both parties in the transaction. For the seller, completing the transfer clears them of any future liabilities related to the vehicle, such as unpaid fines or taxes. For the buyer, it ensures that they are the registered owner, allowing them to update the title, get proper insurance, and avoid problems with the vehicle’s registration.
Failure to meet the 15-day requirement can result in fines or penalties, which can vary depending on the local laws. Some regions may provide a grace period or an opportunity to apply for an extension, but it’s generally advisable to complete the transfer as soon as possible to avoid unnecessary complications.
In summary, the correct time frame for transferring vehicle ownership and registration is within 15 days from the date of purchase. is: