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Can a lien holder on a vehicle take property out of your vehicle?
Wiki User
∙ 12y ago
Theoretically no. If the vehicle is repossessed you are supposed to be given the contents back. However, this does not apply to INSTALLED items, so if you've upgraded the stereo system, or installed premium equipment like a high-performance engine, those are considered to be part of the vehicle.
Also, it's likely to be your word against the vendor about what was in the vehicle at the time it was repossessed.
Wiki User
∙ 12y ago
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How do you add my name as a lien holder to a vehicle?
Take the title to the office where you get your tag at, and take the buyer, and the lien holder and the'll help you.
Why would the second lien holder foreclose?
It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.
Can't afford to take car out impound CA?
Eventually the state will auction it off to recoup their costs. If you have a lien on it currently, the lien holder may take it out of impound and auction it - the state recovering their costs takes priority over the lien holder, and the lien holder will lose all claim to the vehicle if the state auctions it off. Either way, the payments for the vehicle will remain your responsibility.
Can the lien holder take any action against owner occupied property?
Perhaps, it depends upon the laws of the state in which the property is located. In the majority of US states it is possible for a lien holder of real property to petition the court for a forced sale of the property in question.
Can the lien holder take the car form the impound before the 30 day hold is up?
While I am not familiar with this "30 day hold," but the lien holder of a vehicle may take possession of the vehicle at any time after the loan has been defaulted. That is if you the borrower go delinquent on payments, and the vehicle is impounded (potentially for parking violations or excess unpaid tickets), the lien holder will receive notice. Actually they receive notice of impound even if you are not delinquent. If the lien holder pays the outstanding impound and storage fees, they may take possession of the vehicle.
Can your car be repossessed if you have the title in your possession and the bank is not the lien holder?
Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.
How do you determine the priority of one mortgage and charge over the other?
Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.
HOW CAN I REPOSE A TRUCK I AM LIEN HOLDER?
Best way to do it is let the professionals take care of that part. Contact them, show them the title and the lien to the vehicle, and let them do their thing.
Can a HOA force a homeowner into a short sale if the homeowner is current on mortgage?
No. Your use of terminology is incorrect. A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the amount owed on a secured lien and the lien holder agrees to accept less and release the lien.The HOA is not in the position of a secured lien holder, i.e., a mortgagee. It would need to obtain a judgment lien and then take the legal steps necessary to take possession of the property if the lien isn't paid. If the mortgage is current. it would take possession subject to the mortgage.You should seek legal advice.No. Your use of terminology is incorrect. A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the amount owed on a secured lien and the lien holder agrees to accept less and release the lien.The HOA is not in the position of a secured lien holder, i.e., a mortgagee. It would need to obtain a judgment lien and then take the legal steps necessary to take possession of the property if the lien isn't paid. If the mortgage is current. it would take possession subject to the mortgage.You should seek legal advice.No. Your use of terminology is incorrect. A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the amount owed on a secured lien and the lien holder agrees to accept less and release the lien.The HOA is not in the position of a secured lien holder, i.e., a mortgagee. It would need to obtain a judgment lien and then take the legal steps necessary to take possession of the property if the lien isn't paid. If the mortgage is current. it would take possession subject to the mortgage.You should seek legal advice.No. Your use of terminology is incorrect. A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the amount owed on a secured lien and the lien holder agrees to accept less and release the lien.The HOA is not in the position of a secured lien holder, i.e., a mortgagee. It would need to obtain a judgment lien and then take the legal steps necessary to take possession of the property if the lien isn't paid. If the mortgage is current. it would take possession subject to the mortgage.You should seek legal advice.
Can a lien holder refuse release of lien if debt is paid?
If a debt has been paid off, the lien holder is required to release the lien. If the lien holder refuses, you will need to get a lawyer and take the case to court
Can you require the lender to sell your car at a public auction instead of private?
No, the vehicle is not the property of the borrower until the loan has been paid in full. The vehicle belongs to the lender/lien holder who can take whatever action they choose as long as it is allowed by the state law where the vehicle was purchased.
How do you fill out lien release form for a car?
You don't. The only one who can fill out a lien relese is the lien holder. As the owner of the car you are not the lien holder. Take the title to whomever holds the lien and they will release it.
