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Does the lien holder have to hold your motorcycle after repossession?
Wiki User
∙ 10y ago
After repossession, the lien holder or agent sends information on how to reclaim the vehicle; if the owner does not respond or cannot repay the outstanding debt, the agent removes all personal belongings and sells the vehicle at auction. You will then be liable for the difference in what it sells for and the balance on the loan plus repossession fees.
Wiki User
∙ 10y ago
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How long after repossession of your vehicle does the lien-holder have to sell the vehicle?
Forever Adding: I believe the questioner may actually mean to say - does the lien holder have to wait to sell it. Perhaps he doesn't understand that after repossession, it is then "their", that is the lenders, vehicle.
Can you sell a car after you have paid repossession fees on that car?
Not unless the title has been cleared by the lien holder.
What if I never received the title to my motorcycle because I filed bankruptcy and didn't pay the motorcyle off but the lien holder didn't come get the motorcycle.?
The motocycle is not yours. You must write to the lien holder and ask them if they have any ojection to you disposing of it.
How do you remove a lien holder off an abandoned motorcycle in New Hampshire?
Generally to remove a lien, you have to pay the amount of the lien to the lien holder. Even if it is abandoned, the lien holder still has a financial claim against it that must be satisfied before the title is clear. The only other possibility is to show a court that the lien is not legitimate.
Can you return a car to the lienholder?
If the lien holder allows. This is voluntary repossession and will probably not relieve you of any money you owe.
If the lien holder was supposed to repossess a motorcycle but never did can you sell it and how do you obtain a title?
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
Can lien holder repo vehicle if not paid?
Yes. That's the sole cause for repossession, when the payment/s haven't been made.
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.
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.
What is a repair facility's legal responsibility regarding vehicle repossession?
Not sure what you mean. If you are asking if you have a bill from a mechanic and don't pay it, can they repossess the car? Not without a court hearing. If you have a car that is held by a lien and the lien holder comes after the car while it is being worked on, the lien holder CAN and WILL take the car.
Is an assignee a lien holder?
An assignee of a lien is the new lien holder.
How do you find out who has a lien on your motorcycle?
how do you find out who has a lien on a motorcycle
