How to Terminate Hire Purchase / Lease / Hypothecated
Below you can find the procedure to Terminate Hypothecation. (SBI, ICICI,HDFC Finance)
Who can Apply:-Owner of the Vehicle can apply for making an entry in the registration certificate regarding termination of the agreement for higher purchase /lease /hypothecation.
Documents Needed:-All the Following Documents are recurred for Hypothecation.
- Notice of termination of agreement in Form-35 (in Duplicate).
- Registration Certificate (RC Book)
- Insurance Certificate
- No objection certificate from Financier
- Valid Tax
- Valid Pollution under Control Certificate
From-35 and No Objection Certificate will be issued by your Bank.
Fees applicable for the ProcessRs.100/- + Service charges Rs.25/-
To whom should We ApplyMake all the above Mentioned Documents and submit in in your RTO Office.
Regional Transport Officer (or) Motor Vehicle Inspector, Grade-I / II.