Under what conditions will the Licensing Authority approve change of ownership of a vehicle?
- After the seller pays and presents a certification from the Pledge Registrar.
- Correct answer: After the Authority is satisfied that all fees and taxes are paid, that all foreclosures and liens are removed, and that there are no further restrictions.
- After the buyer of the vehicle pays the lawful fee including property tax for the parking spot.
- Only after the Pledge Registrar certifies that the vehicle is free of any foreclosure or encumbrance.
Why this is the answer
The correct answer in the official bank: After the Authority is satisfied that all fees and taxes are paid, that all foreclosures and liens are removed, and that there are no further restrictions.
The Licensing Authority registers a new owner only when the vehicle is completely clear: all fees and taxes are paid, every foreclosure and lien has been removed, and no other restriction remains. A Pledge Registrar certificate alone is not enough, because it does not cover unpaid fees, taxes or other restrictions. Property tax for a parking spot has nothing to do with transferring ownership.