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American state-issued registration certificate from 1917. A vehicle registration certificate is an official document providing proof of registration of a vehicle. It is used primarily by governments as a means of ensuring that all road vehicles are on the national vehicle register, but is also used as a form of law enforcement and to facilitate change of ownership when buying and selling a ...
When a vehicle is financed, the certificate of title is normally held by the lender, who must release it to the purchaser once the balance is paid off. In some states, such as New York and Maryland, the transferred title is sent directly to that individual, but the name of the lender or lienholder appears on the title as well.
The registration certificate often also acts as proof of ownership, though technically this is not the case. [4] Ownership is governed by common law. Ownership of the vehicle (if a secured financial asset) may be checked through the Personal Property Securities Register of the federal government, though this is not a mandatory register. [5]
When the loan was repaid, the borrower would regain ownership. Bills of sale used in this way are known as "security bills". Sometimes, bills of sale would transfer ownership outright, such as when a person sold their goods to another while retaining possession. Bills of sale used for purposes other than borrowing money are known as "absolute ...
The GST is imposed at variable rates on variable items. The rate of GST is 18% for soaps and 28% on washing detergents. GST on movie tickets is based on slabs, with 18% GST for tickets that cost less than ₹100 and 28% GST on tickets costing more than ₹100 and 28% on commercial vehicle and private and 5% on readymade clothes. [33]
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Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it (for example squatting). In many cases, possession and title may each be transferred independently of the other. For real property, land registration and recording provide public notice of ownership information.
The Certificate of Entitlement (COE) are classes of categories as part of a quota license for owning a vehicle in Singapore. [1] The licence is obtained from a successful winning bid in an open bid uniform price auction which grants the legal right of the holder to register, own and use a vehicle in Singapore for an initial period of 10 years.