Form 35 for Termination of Hire-Purchase
Form 35 typically refers to a document related to the transfer of ownership of a vehicle. In India, Form 35 is specifically used for hypothecation termination, which is the removal of a financier’s interest from a vehicle’s registration certificate (RC) after the loan against the vehicle has been fully repaid.
How to Apply for Termination of Hire- Purchase (Form 35)
- Contact the Financier: If you’ve repaid the loan on your vehicle, you need to contact the financier (the institution from which you borrowed the money) to initiate the process of hypothecation termination.
- Obtain No Objection Certificate (NOC): The financier will provide you with a No Objection Certificate (NOC) or a hypothecation termination letter stating that the loan has been repaid in full.
- Visit the RTO: Visit the Regional Transport Office (RTO) where your vehicle is registered. Each state in India has its own RTO, and you’ll need to go to the one where your vehicle is registered.
- Fill Form 35: Obtain Form 35 from the RTO or download it from the official website of the concerned state’s transport department. Fill out the form with accurate details.
- Submit Application: Submit the filled Form 35 along with the required documents to the designated counter at the RTO.
- Payment of Fees: Pay the prescribed fees for hypothecation termination. The fee amount may vary depending on the state.
- Verification and Approval: The RTO will verify the submitted documents and process your application for hypothecation termination.
- Receive Updated RC: Once the process is completed, you will receive an updated RC from the RTO reflecting the removal of hypothecation. This updated RC will not show any lien or charge on the vehicle.
Required Documents for Form 35
- Original RC (Registration Certificate) of the vehicle.
- No Objection Certificate (NOC) or hypothecation termination letter from the financier.
- Valid insurance certificate.
- Valid Pollution Under Control (PUC) certificate.
- Any other documents as specified by the RTO.