Common use of TRANSFER OF VEHICLE OWNERSHIP Clause in Contracts

TRANSFER OF VEHICLE OWNERSHIP. If You sell Your Vehicle or if there is any change in the ownership of Your Vehicle, You may request to transfer the remaining coverage of this Contract to the new owner. This request must be submitted within fifteen (15) days of the change in Vehicle ownership. You must notify the Administrator of the transfer of ownership in writing and must include the following: a transfer fee of $50, the name and address of the new owner, and the mileage of the Vehicle at the time of transfer. The Administrator has the discretion to approve or reject your request to transfer coverage. Copies of all maintenance records showing oil changes and manufacturer’s required maintenance must be given to the new owner. The new owner must retain these records and the Vehicle will still be subject to the maintenance requirements as specified in this Contract and by the Vehicle manufacturer. No handwritten receipts will be accepted. This Contract may not be transferred more than once, may not be assigned to another vehicle, and may not be transferred to a new or used vehicle dealer or anyone other than an individual purchasing Your Vehicle for personal use. If You sell Your Vehicle, or if there is any change in the ownership of Your Vehicle without notifying the Administrator as outlined in this section, this Contract will terminate.

Appears in 2 contracts

Sources: Vehicle Service Contract, Vehicle Service Contract