The Deed Of Sale Of Motor Vehicle With Assume Balance is a specialized legal document used in Canadian jurisdictions when transferring vehicle ownership while the existing loan is taken over by the buyer. This document is particularly relevant when the seller wishes to transfer both the vehicle and its associated financial obligations to a new owner, typically in situations where the vehicle is still under financing. The deed must comply with both federal and provincial requirements, including those set forth in the Motor Vehicle Safety Act, Provincial Motor Vehicle Acts, and relevant financial regulations. It includes comprehensive details about the vehicle, current loan terms, parties involved, and specific conditions for the transfer of both ownership and financial responsibilities. This type of agreement is commonly used in private sales, dealer trade-ins, and fleet vehicle transfers where existing financing needs to be maintained but transferred to a new owner.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies and provides full details of the Seller, Buyer, and Current Lienholder/Financier
2. Background: Establishes the context of the sale, including the Seller's current ownership and existing financing arrangement
3. Definitions: Defines key terms used throughout the deed including Vehicle, Outstanding Balance, Transfer Date, etc.
4. Vehicle Description: Detailed description of the vehicle including make, model, year, VIN, registration number, and current condition
5. Purchase Price and Payment Terms: States the total purchase price, any down payment, and details of the balance being assumed
6. Outstanding Loan Details: Specifies the current outstanding loan amount, interest rate, payment schedule, and remaining term
7. Transfer of Title and Ownership: Details the transfer of vehicle ownership and associated responsibilities
8. Assumption of Balance: Terms and conditions of the loan assumption, including buyer's acknowledgment of debt responsibility
9. Seller's Representations and Warranties: Seller's declarations regarding vehicle condition, ownership, and existing liens
10. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection, understanding of loan terms, and credit approval
11. Completion of Transfer: Process and requirements for completing the ownership and loan transfer
12. Governing Law: Specifies that the deed is governed by Canadian law and relevant provincial legislation
1. Insurance Requirements: Used when specific insurance requirements need to be maintained as part of the loan assumption
2. Co-Signer Details: Include when a co-signer is required for the loan assumption
3. Trade-in Vehicle: Used when the buyer is trading in another vehicle as part of the purchase
4. Maintenance Requirements: Include when the assumed loan includes specific maintenance obligations
5. Default Provisions: Additional terms regarding default scenarios, if required by the lender
6. Release of Seller Liability: Used when the original lender provides specific release terms for the seller
1. Schedule A - Vehicle Condition Report: Detailed inspection report of the vehicle's current condition and any existing damage
2. Schedule B - Loan Statement: Current loan statement showing outstanding balance, payment history, and terms
3. Schedule C - Service History: Documentation of vehicle maintenance and repair history
4. Schedule D - Transfer Documents: Required provincial vehicle transfer and registration forms
5. Appendix 1 - Lender's Consent: Written consent from the current lienholder approving the loan assumption
6. Appendix 2 - Buyer's Credit Approval: Documentation of buyer's credit approval for assuming the loan
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Financial Services
Insurance
Legal Services
Transportation
Fleet Management
Consumer Retail
Banking
Relevant Teams
Legal
Finance
Compliance
Sales
Credit and Risk
Operations
Customer Service
Documentation
Collections
Vehicle Registration
Contract Administration
Relevant Roles
Finance Manager
Auto Sales Manager
Legal Counsel
Compliance Officer
Fleet Manager
Credit Manager
Loan Officer
Vehicle Registration Officer
Documentation Specialist
Risk Assessment Manager
Contract Administrator
Automotive Finance Specialist
Collections Manager
Customer Service Representative
Business Development Manager
Find the exact document you need
Online Sale Deed
A Canadian legal document enabling secure online property ownership transfer, combining traditional deed requirements with electronic transaction elements.
find out more
Collectors Deed
A Canadian legal document facilitating the formal transfer of collectible items between parties, ensuring proper documentation and legal compliance under Canadian law.
find out more
Deed Of Title
A legal document used in Canadian jurisdictions to transfer real property ownership, containing detailed property information and ownership rights.
find out more
Deed Of Guarantee
A Canadian law-governed deed where a guarantor commits to fulfilling another party's financial obligations to a creditor if the primary debtor defaults.
find out more
Deed Of Sale With Assumption Mortgage
A Canadian legal document that combines property sale terms with provisions for the buyer to assume the seller's existing mortgage, subject to lender approval.
find out more
Deed Of Sale Signature
A Canadian legal document that facilitates and records the transfer of real property ownership between parties, meeting provincial registration requirements.
find out more
Deed Of Sale Of Motor Vehicle With Assume Balance
A Canadian legal document facilitating vehicle ownership transfer with loan balance assumption, combining sales and financial elements under federal and provincial regulations.
find out more
Deed Of Sale Notary Price
A notarized legal document used in Canadian jurisdictions (primarily Quebec) for transferring real property ownership, including detailed price terms and conditions of sale.
find out more
Deed Of Sale Notary
A notarized legal document used in Canadian jurisdictions, especially Quebec, that formally transfers real property ownership from seller to buyer.
find out more
Deed Of Sale Bicycle
A Canadian legal document formalizing the transfer of bicycle ownership from seller to buyer, including sale terms and specifications.
find out more
Deed Of Absolute Sale With Partition
A Canadian legal document that facilitates the absolute sale of property while simultaneously establishing its division into separate parcels.
find out more
Deed Of Absolute Sale Without Title
A Canadian legal document for transferring property ownership rights and interests where the seller lacks formal title documentation.
find out more
Gift Deed Property Sale
A Canadian legal document facilitating the transfer of real property as a gift, combining gift deed and property transfer requirements under provincial and federal regulations.
find out more
Deed Of Sale Of Motor Vehicle With Franchise
A Canadian legal document facilitating the sale of a motor vehicle within a franchise business arrangement, combining vehicle transfer and franchise obligations under Canadian federal and provincial laws.
find out more
Deed Of Sale Of Water Refilling Station
A Canadian legal document facilitating the complete transfer of ownership and operational rights of a water refilling station business, ensuring compliance with federal and provincial regulations.
find out more
Deed Of Sale 3rd Owner
A Canadian legal document transferring property ownership from a current owner (who was not the original owner) to a new owner, complying with federal and provincial property laws.
find out more
Deed Of Sale For Deceased Owner
A Canadian legal document facilitating the transfer of real property from a deceased person's estate to a purchaser, complying with federal and provincial estate and property laws.
find out more
Deed Of Absolute Sale Of A Motor Vehicle
A Canadian legal document that formally transfers ownership of a motor vehicle from seller to buyer, compliant with federal and provincial requirements.
find out more
Plot Sale Deed
A Canadian legal document that transfers ownership of a plot of land from seller to buyer, complying with provincial property transfer requirements.
find out more
Deed Of Sale Of A Parcel Of Land
A legal document governed by Canadian law that transfers ownership of land from seller to buyer, including all essential terms and conditions of the sale.
find out more
Deed Of Sale Condo
A legal document for transferring ownership of condominium properties in Canadian jurisdictions, including all associated rights and obligations under provincial property laws.
find out more
Quick Deed Sale Form
A streamlined Canadian legal document for expedited property ownership transfers, meeting federal and provincial requirements for straightforward real estate transactions.
find out more
Grant Bargain Sale Deed
A Canadian legal document that transfers real property ownership from a grantor to a grantee, containing all necessary elements for legal property conveyance under provincial regulations.
find out more
Deed Of Absolute Sale Expiration
A Canadian legal document that transfers complete ownership of real property from seller to buyer, subject to provincial property laws and federal regulations.
find out more
Cash Sale Deed
A Canadian legal document that transfers real property ownership from seller to buyer in a cash transaction, subject to provincial property laws and registration requirements.
find out more
Deed Of Absolute Sale With Conditions
A Canadian legal document transferring absolute property ownership from seller to buyer, subject to specified conditions and provincial property laws.
find out more
Bargain And Sale Deed
A Canadian legal document used to transfer real property ownership from seller to buyer with limited title warranties, subject to provincial property laws.
find out more
Absolute Deed Of Sale
A Canadian legal document that permanently transfers real property ownership from seller to buyer, including all necessary property details and legal requirements.
find out more
Deed Of Sale Of Firearm
A Canadian legal document formalizing the transfer of firearm ownership between parties, ensuring compliance with federal and provincial firearms regulations.
find out more
Deed Of Sale Letter
A Canadian legal document that formalizes the transfer of property ownership from seller to buyer, containing essential sale terms and meeting provincial registry requirements.
find out more
Quick Sale Deed
A Canadian legal document used for expedited property transfers, facilitating quick and legally compliant real estate transactions between parties.
find out more
Transfer Deed For Sale Purchase Of Vehicle
A Canadian legal document that formalizes the transfer of vehicle ownership between seller and buyer, ensuring compliance with federal and provincial regulations.
find out more
Power Of Attorney For Sale Deed
A Canadian legal document authorizing an appointed representative to sell and transfer real property on behalf of the property owner.
find out more
Deed Of Sale Transfer Of Rights
A Canadian legal document that formally transfers ownership rights from one party to another, complying with federal and provincial property transfer requirements.
find out more
Registered Lease Deed
A formal Canadian legal document establishing and registering a lease agreement between landlord and tenant with the provincial land registry office.
find out more
Discharge Deed
A Canadian legal document that formally releases one party from obligations or claims owed to another party, executed as a deed to ensure enforceability.
find out more
Deed Of Sale Rights Only
A Canadian law-governed deed that formalizes the sale and transfer of specific rights between parties, providing enhanced legal protection and clear evidence of the transfer.
find out more
Deed Of Sale Of Portion Of Land
A Canadian legal document facilitating the transfer of ownership of a portion of land from one party to another, complying with provincial land transfer and subdivision regulations.
find out more
Deed Of Sale Form For Lot
A Canadian legal document facilitating the formal transfer of lot ownership between parties, compliant with federal and provincial property laws.
find out more
Deed Of Sale Automobile
A legal document used in Canadian jurisdictions to transfer vehicle ownership between parties, documenting sale terms and meeting provincial regulatory requirements.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)