Ads were posted in all major newspapers by the Punjab Govt. today regarding requirement of a new type of Transfer deed with security features from 1st July onwards. The old transfer deed will be useless. In addition to that
1. This new transfer deed can only be issued to the seller of the vehicle
2. Each deed will have a unique serial number which will be recorded alongwith date of issuance. The deed will also have an expiry date (Maybe only one month)
The implication of this new rule will be huge. There are thousands of cars out there which are being driven on open letters and have been sold many times without transfer. In such cases, it will be very difficult to trace the person on whose name the car is registered and request him to go to ETO office for issuance of the deed.
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