11. (1) In the event of a transfer of ownership of a registered motor vehicle, the registered owner shall remove the markers therefrom and return to the Bureau for cancellation the certificate of registration with a statement signed by him of the name and address of the transferee.
(2) Such owner shall then return the markers to the Bureau unless he applies at the same time for the registration in his name of another motor vehicle to which he may affix such markers; the registration is in such case granted on payment of a fee of one dollar plus the amount whereby the prescribed fee exceeds that paid for the vehicle transferred.
(3) The person to whom the motor vehicle is transferred shall, saving the exemptions provided by this act, obtain forthwith the registration thereof in his name on the usual conditions; but if he is a licensed automobile dealer he may obtain the transfer thereof without registration.
(4) After the cancellation of a conditional sale, if the purchaser does not comply with subsection 1, the Director, upon satisfactory proof of such omission and of the repossession of the vehicle by the vendor, may cancel the registration thereof on surrender of the markers and grant the transfer without registration on payment of a fee of one dollar.
(5) In the case of the transfer of the ownership of a registered motor vehicle by death, gift or partition, or by the winding-up or transfer of an undertaking, the transfer of the registration to the new owner, including the right to use the markers, shall be granted upon surrender of the registration certificate to the Bureau with an application in writing, proof to the satisfaction of the Director and payment of a fee of one dollar.
(6) So long as the registered owner of a motor vehicle has not complied with subsections 1 and 2 or the registration has not been cancelled under subsection 4 or transferred under subsection 5, he shall be deemed to be the owner for purposes of responsibility and for purposes of insurance against the responsibility resulting from the ownership or use of such vehicle.
(7) Whosoever discards or dismantles a registered motor vehicle shall forthwith surrender the markers and registration certificate thereof to the Bureau with a request for cancellation; he may however exercise the right provided in subsection 2.