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Simon Johnston
United Kingdom
6119 Posts |
 Posted - 20/01/2014 : 05:24:58
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Does anyone have experience of setting up joint ownership of vehicles such as ours? And if so, how does one deal with the issue of Registered Keeper on the V5 which presumably can only be a single person?
Simon J
J3437 |
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jeremy3082
United Kingdom
14 Posts |
Posted - 20/01/2014 : 08:30:25
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| Hi Simon, I believe that "Registered Keeper" is just that, the registered keeper of the vehicle, it does not necessarily reflect ownership. One issue that you may experience relates to trying to insure the vehicle, this will have to be done under the registered keepers name, many of the main stream insurers cannot get their head around the fact that the registered keeper and insurer may be different people. With regards to ownership, you will probably have to have a legal document drawn up. If one of the owners dies you will have to stipulate what happens to their share of the car, this will reduce the potential for all sorts of problems in the future, especially with the values that cars are now achieving. I am sure someone else has more experience that me, these are just my initial thoughts. |
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Simon Johnston
United Kingdom
6119 Posts |
Posted - 20/01/2014 : 08:45:24
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Many thanks, Jeremy. Indeed, the Registered Keeper is just that, the Keeper, and the V5 specifically states that it does not prove ownership. I imagine that there must be folks here who have some sort of joint ownership of what are becoming more and more valuable assets which are more like family heirlooms than the cheap bangers many of us started out with. As such, a legal document may well be necessary.
Simon J
J3437 |
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