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∙ 12y ago
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Can a car be repossessed if there is a lien holder on title but there is no actual loan?
hi
When you pay off a car loan should the lien holder send you CAR KEY?
The lein holder does not have the key to your car. They will have a title that you will be sent.
How do i sell a wrecked car i still owe money on?
You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.
If the loan for a vehicle is in one person's name and the tite in another's what are the rights of the person on the title if the vehicle is repossessed?
None, unless the person who is named on the title chooses to make an agreement with the lender to refinance the car in their name. A title which has a lien against it does not confer ownership to the title holder. The vehicle belongs to the lender/lien holder until the loan agreement is paid.
Is it possible to have a lien on your vehicle even if you already have the title?
Yes. The title you received when you purchased the vehicle should show the lien holder. Even when you buy a vehicle on credit, you will receive a title. It is a lien title. You will not receive the full or clear title until the vehicle loan is paid off.
Does the lien holder of a vehicle have the title?
No it does not
What happens if you do buy a car or motorcycle that has a lien against it and you want to register it and you got the car with a bill of sale?
you will have to find out who has a lein on it have them fill out a fourm of lein satisfy. In most states a lien holder is recorded on the title and the lien holder will keep the title until the lien is paid off. After the lien holder is paid off, they will sign the title to release the lien and give/send the title to the owner. The title office can tell you who has a lien on the title.
How do you find lien holder on vehicle?
To find the lien holder of a vehicle, the registered owner of the vehicle will have to apply for a duplicate title. The VIN will be necessary to obtain the duplicate title. The lien holder will be listed on the duplicate title.
How do you put a lien on a car with no title in your possession?
If you are the rightful owner of the car, you could file for lost title. Otherwise, I'm not sure it would be legal. If you default on your loan, without a title the lien holder would have a difficult time collecting
Can your car be repossessed if there is no lien holder on title?
no
How does a lien protect the lien holder on a car?
A lien holder on a car title or car loan just means that person is the full owner of the car. If your car gets totalled or goes into default, the lien holder can retrieve the car from you because they have full ownership of the car. Lien Holders are used for lending purposes. This means the lien holder has no liability responsibility. The registered person on the car is required to have liability coverage on the car according to law and not hold the lien holder liability on the car if the car gets damaged or totaled. Lien Holder means they fully own the vehicle until the loan is paid off.
Can i Put a lien on a vehicle to get my name on the title?
A person or a company that puts a lien on a vehicle is a "lien holder" that is on the title. It is not recognized as ownership.
