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ESTATE PLANNING:- DON’T LET A LOST VEHICLE REGISTRATION CERTIFICATE DELAY YOUR ESTATE
When planning your affairs, it is easy to focus on your Will, bank accounts, property and other important documents and overlook something as simple as the original vehicle registration certificate.
However, when a vehicle forms part of a deceased estate, the original registration documentation can be extremely important when the executor needs to transfer the vehicle to a beneficiary or otherwise deal with the vehicle.
Why is the original registration certificate important?
The vehicle registration certificate is an important document confirming the vehicle's registration and ownership details on the national vehicle registration system (NaTIS).
When an executor is required to transfer a vehicle from a deceased estate to a beneficiary, the relevant vehicle-registration authority will require supporting documentation. If the original registration certificate is readily available, the process can generally proceed much more smoothly.
What happens if the original certificate cannot be found?
If the original registration certificate has been lost or cannot be located after the owner's death, the executor may have to take additional steps to obtain replacement documentation before the vehicle can be transferred.
This can involve:
- Establishing where the vehicle is currently registered;
- Making enquiries with the relevant registering authority;
- Completing additional forms and/or affidavits;
- Providing proof of the executor's authority to act;
- Obtaining certified supporting documents; and
- Potentially making additional visits to a licensing or registering authority.
Where the executor deals with several estate administration requirements at the same time, these additional steps can cause unnecessary delays, administration and costs.
The process can also become more complicated where the beneficiary lives in a different town or province from the vehicle's registering authority.
A simple step that can save time and costs
We recommend that vehicle owners keep the original vehicle registration certificate together with their other important estate-planning documents and ensure that their family or nominated executor knows where it is kept.
It is also useful to keep a copy of the registration certificate separately as part of your personal records.
If you have more than one vehicle, make sure that the registration documents for each vehicle are safely stored and clearly identifiable. Note – if the vehicle is still under finance, the certificate will be with the finance house and will be send to the Executor once the outstanding debt is settled.
Our recommendation
As part of your estate planning, take a few minutes to check that you have the following readily available:
- Original vehicle registration certificate
- Copy of the latest vehicle license disc
- Vehicle registration number and VIN/chassis number
- Details of any outstanding vehicle finance
- Details of the person who will inherit the vehicle, if applicable
A little preparation now can save your family and executor considerable time and administration later.
At SDK Professional Services (Pty) Ltd, we believe that good estate planning is not only about having a valid Will — it is also about making sure that the practical administration of your estate can be dealt with as efficiently as possible.
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