Hi all,

Hoping to get some advice here from all sifus...

1. Tomorrow I am going to the bank to sign the LOU, as buyer is getting a hire-purchase loan to buy my car...

2. Can I go to JPJ to do the car ownership transfer as 'Seller', complete the form and biometric scan. The Buyer is at another state so we cannot go to JPJ together.
I am hoping to do this fast so that the bank recognize this process is completed and can disburse the final payment to me, CNY is coming..

3. I understand once I performed the car ownership transfer, Buyer got 7 days to complete the ownership transfer timely.

Questions;

1. Can I handover the car to the Buyer's spouse once I completed the car ownership transfer? since I am no longer the owner of the car...anyway...I let the buyer to complete his/her ownership transfer and get his/her insurance and roadtax ready before he/she drives the car.

2. Is there any risk or exposure for me doing this? Logically bank will only disburse payment after the car ownership transfer is done....So I am hoping with me completing the car ownership transfer first, that will indirectly get the Buyer to transfer ownership fast within the 7 days. And bank will process payment.

3. Can the Buyer perform the car ownership transfer at other state JPJ office within the 7 days, as long as I handover to the buyer the original car registration card...?

really appreciate any guidance please...
if it's too risky, i will reconsider my decision....
what if buyer couldn't complete the transfer within 7 days and i have give away the car.

regards,