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A lien holder is the finance company, bank, or individual with whom you signed an agreement to borrow money using a particular asset, such as a car or real property, as collateral. You cannot sell that asset until the loan is paid. If you don't pay the loan, the lien holder can take possession of the property.
For example:
- You signed a contract with a finance company when you purchased your car. The finance company is the lien holder. If you default on your payments the company will take the car.
- If you signed a mortgage for your home and default on the mortgage, the lender is the lien holder and can take possession of your home by foreclosure.
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∙ 13y ago
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What is my liability as a lienholder on a motor vehicle?
The lienholder has no liability for any damage done by the buyers vehicle.
Can your car be repossessed from the towing lot that towes your wrecked vehicle?
If there's a lienholder on that vehicle, yes, that lienholder can repossess it.
Can a second lienholder of real property foreclose?
Yes. The second lienholder can foreclose. The new buyer is still responsible for any senior liens.
If primary borrower gets behind in payments can you repo car?
If "you" are the lienholder then yes. If you're not the lienholder or their authorized agent (e.g. a repo man working for them), then no.
Who does insurance company write check to from stolen car?
Either to the owner or lienholder depending on if there is a loan on the vehicle and if there is a loan, how much is owned. The lienholder gets paid first.
Can you cash check made out to lienholder?
Call the bank and ask them if you can cash a check made out to lienholder. They will tell you if they will cash it or not, or under what conditions they will cash it. You may need to present them with documentation.
Can a lienholder report a car stolen in Georgia?
Simple answer? sure.
What is the lienholder telephone number for Bank of America PO Box 2759 Jacksonville FL 32203?
800-991-1770
How do you get your title for paid out vehicle?
Contact the (former) lienholder to get them to release the title to you.
Can a vehicle that is without a lienholder be repossessed by a company before a lien is filed?
No
What is the Pnc Bank Lienholder Address AUTO INSURANCE?
What is auto address
When the tow truck driver backed into your backyard with out your consent was he trespassing to repo my car?
Nope. It's not your car - it's the lienholder's car. And the law permits the lienholder to recover their property when the conditions of the lien are not met.
