Document background
The Car Ownership Contract is essential for any vehicle ownership transfer in Singapore's highly regulated automotive market. This document is used when transferring ownership of a vehicle between parties and must comply with Singapore's comprehensive regulatory framework, including LTA requirements, COE regulations, and mandatory insurance provisions. The contract protects both parties by clearly documenting the terms of sale, vehicle condition, ownership transfer process, and respective obligations. It's particularly important given Singapore's unique vehicle quota system and strict ownership requirements.
