I'm transferring ownership of my car to a friend when I buy a new one. The V5 doc says that 'The Registered Keeper (seller) will continue to be liable for the vehicle until DVLA is informed of the keeper change.
This is concerning because, as I will no longer have an insurable interest in the car once I've signed the V5 docs, I can't insure it. But if I'm the one that is liable for it until the documents are received by my friend, then she can't insure it either....?
Obviously, this is something very simple and done every day so I'm guessing I'm reading too much into this and that it will be hers to insure as soon as we sign the docs and I give her the keys.....right?
Thanks in advance for any advice.
This is concerning because, as I will no longer have an insurable interest in the car once I've signed the V5 docs, I can't insure it. But if I'm the one that is liable for it until the documents are received by my friend, then she can't insure it either....?
Obviously, this is something very simple and done every day so I'm guessing I'm reading too much into this and that it will be hers to insure as soon as we sign the docs and I give her the keys.....right?
Thanks in advance for any advice.