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The Car Assume Balance Deed of Sale is a specialized legal document used in Qatar when transferring ownership of a financed vehicle where the buyer agrees to take over the seller's remaining loan payments. This document is particularly relevant when the original owner wishes to transfer both the vehicle and its associated financial obligations to a new owner before the loan term expires. It must comply with Qatar's Civil Code, Traffic Laws, and banking regulations, requiring approval from the financing institution. The document includes detailed information about the vehicle, remaining payment schedule, parties' obligations, and specific conditions for the transfer. It's commonly used in situations where buyers prefer to take over existing financing rather than arrange new loans, offering a practical solution for both parties while ensuring legal compliance with Qatar's regulatory requirements.

1. Parties: Identifies the Seller (current owner) and Buyer (assuming party), including their full legal names, Qatar ID numbers, and contact details

2. Background: States the current ownership status of the vehicle, existing financing arrangements, and intention to transfer ownership with assumption of remaining balance

3. Definitions: Defines key terms including Vehicle, Outstanding Balance, Financing Institution, Transfer Date, and Payment Schedule

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

5. Purchase Price and Payment Terms: Details of the outstanding balance being assumed, any down payment, and payment schedule

6. Transfer of Ownership: Process and conditions for transferring vehicle ownership, including responsibilities for registration transfer

7. Representations and Warranties: Seller's declarations regarding vehicle condition, existing liens, and authority to sell; Buyer's acknowledgment of vehicle condition and payment obligations

8. Financing Institution Consent: Acknowledgment of the financing institution's approval for the balance transfer

9. Handover Process: Details of vehicle physical handover, including timing and location

10. Governing Law and Jurisdiction: Specifies Qatar law as governing law and Qatar courts' jurisdiction