You'll find all you need to know about buying/selling your bike on this MTO webpage: http://www.mto.gov.on.ca/english/dandv/vehicle/used.shtml
A couple of further notes -
Have fun with your new bike!
A couple of further notes -
- it is the seller's responsibility to provide the Vehicle Information Package. IMHO, any buyer would be crazy to hand over the money without seeing this. They could be buying a vehicle to which liens are still attached, or has been branded as salvage (in which case, it cannot be licensed.)
- unless you know the person really well, you might want to accompany the buyer to the License Office and get the ownership of the vehicle changed immediately. If you do not, and the buyer does not change the ownership, then as far as the MTO knows, you are still the legal owner. This could have repercussions down the road if the new owner is involved in a collision (This happened to someone I know.) If you choose not to do this, then as a minimum, you should notify the MTO if the vehicle is sold.
Have fun with your new bike!