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Yes, a dealership can hold the title of a traded-in vehicle that has a lien on it, but they typically need to settle the lien before transferring ownership. The dealership will usually pay off the remaining loan balance to the lienholder as part of the trade-in process. Once the lien is cleared, they can obtain a clean title to sell or resell the vehicle. It's essential for the seller to communicate with the dealership about the lien details to ensure a smooth transaction.
What else can I help you with?
Can a lien be placed on a home own by two people when the other party is not involve in the debt?
It depends on how they hold title and the basis for the lien.It depends on how they hold title and the basis for the lien.It depends on how they hold title and the basis for the lien.It depends on how they hold title and the basis for the lien.
How long does dealership have until they satisfy lien on traded vehicle in North Carolina?
In North Carolina, a dealership has 20 days to satisfy the lien on a traded vehicle after the transaction is completed. This requirement ensures that the dealership properly pays off any existing liens associated with the vehicle before transferring ownership. Failure to do so can lead to legal complications and potential liability for the dealership.
Can a used car Dealership sale a car with a title not in there name and has a lien on it?
you are gay if you read this
Does a car dealership have legal right to hold your title once you have completely paid that specific car off?
Whose NAME is the title in? Yours, or the dealership's? When you bought the vehicle, the auto dealership would supposedly transfer the title to you, but would also place a "lien" on the vehicle. IF THE TITLE IS IN YOUR NAME, simply tell the dealership to hand it over, and call the authorities if they refuse. IF THE TITLE IS NOT IN YOUR NAME, then you just may have a problem requiring the services of an attorney, assuming of course that you have fully paid for the vehicle.
How do you get a car that has a lien on it in your name registered in your mother's name since she is the one who will be driving it?
A vehicle with a lien holder named on the title cannot be traded, transferred or sold without the title being cleared by the lien holder.
How long does the company have after the car is sold to sue for amount owed on car?
This is an almost impossibility, unless the title has been doctored. If "the company" sold person A the car, the title contains that company's name as a lien holder, which means that the car cannot be transferred to another person without the approval of "the company". Look at a car title from a dealership, for example, and see what color it is. Then look at a title for a vehicle that is paid for and is free and clear. The dealership title has the dealership name on it as the lien holder, different color title. The free and clear title has no lien holder and is a different color. If a car has been sold with a lien holder, person A is responsible for payment for the car, regardless of who is driving it.
If a vehicle has a previous lien against it and you purchase it from a dealer do you have anything to worry about with the lien?
The lien is still valid, even though you purchased the vehicle through a dealership. The lienholder's name should be on the vehicle title, though. If you were not notified of the lien before buying the vehicle, see the dealership and ask for "rescission of contract"--this means the dealership will take back the vehicle and refund your money. If the dealership is unwilling or unable to do so, contact you state's attorney general.
What happens if i buy a car with a lien title from the owner?
A lien title means that the car has a loan against it. If you do not have a "clear" or non lien title, the lender who hold the clear title can and does have the right to get the balance of the loan from you. The purpose of the lien title is to enable the car buyer to get the legal requirement for driving the car from the state. It's like renting the car in essence; the lien title is almost like the lease agreement for an apartment.So if a lien title is all there is...don't buy the car. It's not his to sell.Somebody has to settle the lien before you can legally own or register the vehicle.
Is North Carolina a lien theory or title theory state?
Title theory, bank will hold the title to property as long as their is a mortgage
Can you put a lien on a car if you have the title?
That would be counterproductive if the title you hold is in your name. If you are holding the title for someone else, a lien would only make a difference when they sell the car--and it has to meet certain criteria.AnswerNo. You cannot place a lien on your own property legally since there is no separation of title. A lien gives the lien holder a legal interest in the property of another. If you are holding property in your name for someone else, the title is in your name and you cannot place a lien against it.
Can you sell a car to dealership if your loan was charged off and you a have a lien on the title?
At minimum, you must satisfy (pay off) the lien. Talk to a dealership---NOT the one you plan to do business with, but call a different one---they can give you information. When you go to sell the car, keep in mind the lien amount in your overall price you want for the car. Make sure you get paperwork when you pay off the lien.
How do you put a lien on a matrimonial home where one of the owners is not on title?
Generally, if the home is in a sole ownership then you can record a lien once you have prevailed in a lawsuit and the court has issued a judgment lien. Generally, a home is not a marital home unless the husband and wife both hold title as a husband and wife.Generally, if the home is in a sole ownership then you can record a lien once you have prevailed in a lawsuit and the court has issued a judgment lien. Generally, a home is not a marital homeunless the husband and wife both hold title as a husband and wife.Generally, if the home is in a sole ownership then you can record a lien once you have prevailed in a lawsuit and the court has issued a judgment lien. Generally, a home is not a marital homeunless the husband and wife both hold title as a husband and wife.Generally, if the home is in a sole ownership then you can record a lien once you have prevailed in a lawsuit and the court has issued a judgment lien. Generally, a home is not a marital homeunless the husband and wife both hold title as a husband and wife.
