When the owner of a vehicle changes, the change of ownership must be reported to the Icelandic Transport Authority (ICETRA).
It should be kept in mind before announcing the change of ownership to carefully review mortgages, damage history and other issues outlined in the article on buying and selling a vehicle.
The process
A change of ownership of a vehicle must be reported within 7 days of purchase.
The seller fills out the notification and pays for the registration.
The buyer, including co-owner and keeper if applicable, signs and confirms the notification electronically.
The change of ownership is automatically recorded in the vehicle register.
Cost
The change of ownership costs 2.872 ISK which the seller pays upon registration.
Service provider
The Icelandic Transport Authority