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 Post subject: SOLD A REG ON RETENTION
PostPosted: Wed Feb 01, 2012 12:33 pm 
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I have sold a registration which is currently on retention and have recently sold it to my friend.

I am nominee but not grantee but have all the paperwork to say I have paid for it. My friend needs to amend the name on the certificate so he can assign it to his car and I have been told that I cannot sign it.

Is this true ? Does this mean I should not have sold the registration even though I have paid for it in full and have proof of this ?

Thank you in advance for any help


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PostPosted: Wed Feb 01, 2012 1:12 pm 
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You can contact the purchaser and tell them that you would like the nominee to be changed to your friend's name so that he can go on to assign it to his vehicle.


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PostPosted: Wed Feb 01, 2012 1:57 pm 
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when you say purchaser you mean the grantee ? I am the purchaser.

I can do that but it was purchased from Ebay so what if I send the certificate to them and they don't return it back to me ? ?

Would I have any rights with DVLA ?


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PostPosted: Wed Feb 01, 2012 2:48 pm 
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yes - the 'purchaser' on a V750 is what you are referring to as the grantee.
Of course you would have to check with whomever you bought it off before sending it back to them (to ensure that they'd be happy to sign off a new nominee).
Failing that, you could have the reg. assigned to a vehicle you are the registered keeper of and then place it back on retention. Doing this would then make you the 'purchaser' on the re-issued/new V750.


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PostPosted: Wed Feb 01, 2012 3:10 pm 
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I thought about that but it would end up costing me another £105 to put the registration back onto certificate rather than just £25 to change the nominee - i guess it depends on whether I want to risk losing it for £80

what i should have done is requested a Power Of Attorney at the time of purchase

Thanks for the advice


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PostPosted: Wed Feb 01, 2012 3:11 pm 
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No worries. Good luck with whatever you decide to do.


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PostPosted: Mon Feb 06, 2012 1:43 pm 
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I love the irony of this post!! A perfectly reasonable and honest question was asked yet nobody bothers repying except Faz. And the subject of the thread - something Faz knows the LEAST about - SELLING A REG! Faz can only dreeeeaaaaammmmm!!!!


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PostPosted: Mon Feb 06, 2012 2:12 pm 
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Biloboss clearly found my contributions helpful RTR.

(I'm not just here to sell my own plates Q.E.D.)


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PostPosted: Mon Feb 06, 2012 2:41 pm 
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shame you can't practice what you preach and sell one!


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PostPosted: Mon Feb 06, 2012 2:52 pm 
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I'm an investor not a trader.


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PostPosted: Mon Feb 06, 2012 3:29 pm 
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Depends what their investment horizon is. I'm in no hurry to sell.


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PostPosted: Mon Feb 06, 2012 3:36 pm 
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bloody good job! you'll not sell one before 2020 is my estimate and then, you'll have slashed your prices by so much, you'll technically have lost money by having to keep retaining them for so long!


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PostPosted: Mon Feb 06, 2012 3:43 pm 
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We'll see. It a few thousand pound gamble/hobby so ...


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PostPosted: Mon Feb 06, 2012 3:45 pm 
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To retain 20 reg costs 500 p/a. Decade of no sales would cost 5k. Not a disaster.


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PostPosted: Mon Feb 06, 2012 3:56 pm 
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£7000 loss after 10 years of no sales - interesting business model you have there!


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PostPosted: Mon Feb 06, 2012 4:03 pm 
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7k? This is a worse case scenario and as I've mentioned to you, I'm not aiming to make a living out of it. If I make a few pounds, great. If not, no big deal ...


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PostPosted: Tue Feb 07, 2012 5:07 am 
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There are some which weren't spotted till later so the purchase order has nothing to do with which ones are 'best' ...


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