Tractor registration

sandeep pilania (Querist) 08 June 2012 This query is : Resolved
I want to buy a second hand tractor.
The Tractor owner purchased it through a land mortgage bank so tractor registration can't be at my name until the bank loan is clear. Tractor owner want to sell tractor on Affidavit. What I will be legal owner after signing affidavit and for how much period. How many rs.Stamp paper must
or any other legal process.
Thanks
Sandeep Pilania

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ajay sethi (Expert) 08 June 2012
unless and until bank loan is cleared you cnanot be owner of tractor . both of you jointly approach bank . pay money directly to bank for repayment of loan . let bank give NOc for transfer of tractor . then enter itno agreement with owner for transfer of tractor .

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