Download 35 No Form: What Is It and How to Use It?
If you have taken a loan to buy a vehicle, you might have heard of Form 35. But what is it exactly and why do you need it? In this article, we will explain everything you need to know about Form 35, how to download it, how to fill it, and how to submit it. Read on to find out more.
Introduction
Buying a vehicle is a big decision that involves a lot of money. Many people opt for taking a loan from a bank or a financial institution to finance their purchase. This means that they enter into an agreement of hire-purchase, lease, or hypothecation with the lender. In simple terms, this means that the lender has a lien or a claim on the vehicle until the borrower repays the loan in full.
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But what happens when the borrower pays off the loan and becomes the sole owner of the vehicle? How does he or she remove the lien or the claim of the lender from the vehicle's registration certificate? This is where Form 35 comes in handy.
What is Form 35?
Form 35 is a legal document that is used to notify the termination of an agreement of hire-purchase, lease, or hypothecation between the borrower and the lender. It is also known as Notice of Termination of an Agreement of Hire-Purchase/Lease/Hypothecation. It is issued by the lender to the borrower after the loan is repaid in full. It is also sent to the registering authority, which is the office that issues the registration certificate for the vehicle.
Why do you need Form 35?
You need Form 35 for two main reasons:
To cancel the lien or the claim of the lender from your vehicle's registration certificate. This will make you the sole owner of the vehicle and give you full rights over it.
To avoid any legal complications or disputes in case you want to sell, transfer, or dispose of your vehicle in the future. Without Form 35, you might face difficulties in proving your ownership or getting a no-objection certificate from the lender.
When do you need Form 35?
You need Form 35 when you have repaid your loan in full and want to terminate the agreement of hire-purchase, lease, or hypothecation with your lender. You should request your lender to issue Form 35 as soon as possible after clearing your dues. You should also keep a copy of Form 35 for your own records.
How to download Form 35?
There are two ways to download Form 35:
How to download 35 no form for termination of hire-purchase agreement
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Online method
You can download Form 35 online from various websites that provide forms related to vehicles and taxes. For example, you can download Form 35 from:
The official website of Parivahan Sewa, which is a portal for road transport services in India. You can find Form 35 under Download Forms > CMVR Forms > FORM-35.
The official website of Central Board of Direct Taxes (CBDT), which is a part of the Department of Revenue under the Ministry of Finance in India. You can find Form 35 under Forms > Income Tax Rules > FORM NO. 35.
Offline method
You can also get Form 35 offline from your lender or from the nearest registering authority office. You might have to pay a nominal fee for getting Form 35 offline. How to fill Form 35?
Form 35 is a simple and straightforward document that requires you to fill some basic details about yourself, your lender, and your vehicle. You can fill Form 35 online or offline, depending on your preference. Here are the steps to fill Form 35:
Particulars of the registered owner
This section requires you to fill your name, address, and phone number as the registered owner of the vehicle. You should fill these details exactly as they appear on your registration certificate.
Particulars of the financier
This section requires you to fill the name, address, and phone number of the lender who financed your vehicle. You should fill these details exactly as they appear on your loan agreement.
Particulars of the vehicle
This section requires you to fill the details of your vehicle, such as the registration number, engine number, chassis number, make, model, and color. You should fill these details exactly as they appear on your registration certificate.
Signature and attestation
This section requires you to sign and date Form 35 in the presence of a witness. You should also get Form 35 attested by your lender or by a notary public. The witness should also sign and date Form 35 and provide his or her name and address.
How to submit Form 35?
After filling Form 35, you need to submit it to two parties: the registering authority and the financier. Here are the steps to submit Form 35:
To the registering authority
You need to submit Form 35 along with some other documents to the registering authority that issued your registration certificate. The documents include:
Your original registration certificate
A copy of your insurance policy
A copy of your pollution under control certificate
A copy of your driving license
A copy of your identity proof
A copy of your address proof
A fee for cancellation of lien or claim
You can submit these documents online or offline, depending on the availability of the service in your area. You should get an acknowledgment receipt after submitting these documents. The registering authority will verify your documents and issue a new registration certificate without the lien or claim of the lender.
To the financier
You need to submit Form 35 along with some other documents to the lender who financed your vehicle. The documents include:
Your original loan agreement
A copy of your no-dues certificate from the lender
A copy of your new registration certificate without the lien or claim of the lender
You can submit these documents online or offline, depending on the preference of the lender. You should get an acknowledgment receipt after submitting these documents. The lender will update their records and issue a no-objection certificate for your vehicle. Conclusion
Form 35 is an important document that you need to download, fill, and submit after repaying your loan for your vehicle. It will help you to cancel the lien or claim of the lender from your vehicle's registration certificate and make you the sole owner of the vehicle. It will also help you to avoid any legal complications or disputes in case you want to sell, transfer, or dispose of your vehicle in the future. You can download Form 35 online or offline, fill it with some basic details, and submit it to the registering authority and the financier. You should keep a copy of Form 35 and the related documents for your own records.
We hope this article has helped you to understand what Form 35 is and how to use it. If you have any questions or feedback, please feel free to leave a comment below. Thank you for reading!
FAQs
Q: How long does it take to get a new registration certificate without the lien or claim of the lender?
A: It may take up to 30 days for the registering authority to issue a new registration certificate without the lien or claim of the lender. However, this may vary depending on the workload and efficiency of the registering authority.
Q: What if I lose Form 35 or any other document related to it?
A: If you lose Form 35 or any other document related to it, you should contact your lender or the registering authority as soon as possible and request a duplicate copy. You may have to pay a fee and submit some proof of identity and address for getting a duplicate copy.
Q: Can I download Form 35 in any language?
A: Form 35 is available in English and Hindi languages on the official websites of Parivahan Sewa and CBDT. However, some websites may provide Form 35 in other regional languages as well. You should check the validity and authenticity of such websites before downloading Form 35 from them.
Q: Can I use Form 35 for any type of vehicle?
A: Yes, you can use Form 35 for any type of vehicle, such as a car, bike, scooter, truck, bus, etc., that is registered under an agreement of hire-purchase, lease, or hypothecation with a lender.
Q: Do I need to pay any tax or fee for using Form 35?
A: No, you do not need to pay any tax or fee for using Form 35. However, you may have to pay a fee for getting Form 35 offline from your lender or the registering authority. You may also have to pay a fee for cancelling the lien or claim of the lender from your vehicle's registration certificate. 44f88ac181
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