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The Vehicle Ownership Transfer Agreement is a crucial legal document used in Hong Kong when transferring ownership of a vehicle from one party to another. It is essential for both private sales and commercial transactions, ensuring compliance with Hong Kong's Road Traffic Ordinance and related regulations. This agreement is required whenever a vehicle changes ownership, whether between individuals, companies, or dealers. It includes critical information such as vehicle specifications, seller warranties, buyer acknowledgments, and specific requirements for Hong Kong vehicle registration transfer. The document protects both parties by clearly stating the terms of sale, condition of the vehicle, and responsibilities for transfer-related costs and procedures. It also addresses Hong Kong-specific requirements such as mandatory insurance, stamp duty obligations, and proper documentation for the Transport Department.

1. Parties: Identification of the Seller and Buyer with their full legal names, HKID/passport numbers, and registered addresses

2. Background: Brief context explaining the Seller's current ownership and intention to transfer the vehicle to the Buyer

3. Definitions: Definitions of key terms used throughout the agreement including 'Vehicle', 'Transfer Date', 'Purchase Price', and 'Completion'

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, registration number, chassis number, and engine number

5. Sale and Purchase: Core terms of the transfer including the agreement to sell and purchase, purchase price, and payment terms

6. Completion: Details of when and how the transfer will be completed, including handover of vehicle and documentation

7. Seller's Warranties: Warranties regarding vehicle ownership, condition, outstanding loans, and encumbrances

8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition

9. Transfer Process: Steps to be taken to effect the transfer including TD forms, insurance, and registration

10. Costs and Stamp Duty: Allocation of transfer costs including stamp duty and registration fees

11. Governing Law: Specification that Hong Kong law governs the agreement