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<blockquote data-quote="warwickuni" data-source="post: 27182115" data-attributes="member: 101444"><p>How can you sell a thing that you do not own?</p><p>You are only a lessee or person who had obtain a lease for an item. Can you sell a building which you leased from another for your business?</p><p>But you may ask lease company and they may consent to transfer directly from you to another person. This is possible if they agree. (just to reduce number of owners on the book, this may be doing . I do not know . But legally you cannot sell a thing that you leased from a person or company , irrepective of your full payment for the item. It needs to be transferred to your name. This is not so if you obtain the vehicle from hirepurchase(which is rare now but was very popular in 80s under Consumer Credit Act of 1982?</p><p>Whether you can change ownership, without going to RMV, sorry I cant answer. But normally transfer papers were direclty sent to RMV by two parties. So it may be possible. Best is to ask your finace company. Since it is practical issue and nothing to do with law they are the best. I havent transferred a vehicle for a long time!! and mine was a new one so there was no need to go to RMV it was issued by DS at Maligawatta. They share informaton with customs and I did not have to fill a single form and only one person dealt all the issues .(unlike govt places where you need to go to several places to pay and approcal etc). Who said govt service cannot be improved? If there is a will there is a way.</p></blockquote><p></p>
[QUOTE="warwickuni, post: 27182115, member: 101444"] How can you sell a thing that you do not own? You are only a lessee or person who had obtain a lease for an item. Can you sell a building which you leased from another for your business? But you may ask lease company and they may consent to transfer directly from you to another person. This is possible if they agree. (just to reduce number of owners on the book, this may be doing . I do not know . But legally you cannot sell a thing that you leased from a person or company , irrepective of your full payment for the item. It needs to be transferred to your name. This is not so if you obtain the vehicle from hirepurchase(which is rare now but was very popular in 80s under Consumer Credit Act of 1982? Whether you can change ownership, without going to RMV, sorry I cant answer. But normally transfer papers were direclty sent to RMV by two parties. So it may be possible. Best is to ask your finace company. Since it is practical issue and nothing to do with law they are the best. I havent transferred a vehicle for a long time!! and mine was a new one so there was no need to go to RMV it was issued by DS at Maligawatta. They share informaton with customs and I did not have to fill a single form and only one person dealt all the issues .(unlike govt places where you need to go to several places to pay and approcal etc). Who said govt service cannot be improved? If there is a will there is a way. [/QUOTE]
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