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The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
A drawback of ELT is that a holder cannot convert ELT to paper on a same-day basis in the majority of ELT states. Some states do offer an option for expedited printing. For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien.
The V5 document records who the Registered Keeper of the vehicle is; it does not establish legal ownership of the vehicle. These documents used to be blue on the front. However, they were changed to red in 2010/11 after approximately 2.2 million blank blue V5 documents were stolen, allowing thieves to clone stolen vehicles much more easily. [2] [3]
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 ...
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