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Sure; you could have a lien to pay back the loan used to purchase the car, another lien for unpaid taxes, another lien for work done on the car by a mechanic, a lien from a court judgment for damages in a civil case, and so forth.
Wiki User
∙ 16y ago
Wiki User
∙ 14y agoYes. The first lien is called the first mortgage, and the second lien is called the second mortgage. If you default on both and the property is sold at auction, the first lien holder gets paid first. If money is left over, the second lien holder gets paid. If money is still left over, you should get it even though you defaulted. Some commercial properties have 5 or 6 liens. On one the last lien holder did not get paid and took over the property. He had to pay the rest to keep from loosing the property.
Wiki User
∙ 12y agoYes, the owners can sign over the title. The lien must be paid off with proof of payment suitable for filing at the Department of Motor Vehicles in order to clear the title.
Yes, the owners can sign over the title. The lien must be paid off with proof of payment suitable for filing at the Department of Motor Vehicles in order to clear the title.
Yes, the owners can sign over the title. The lien must be paid off with proof of payment suitable for filing at the Department of Motor Vehicles in order to clear the title.
Yes, the owners can sign over the title. The lien must be paid off with proof of payment suitable for filing at the Department of Motor Vehicles in order to clear the title.
Wiki User
∙ 12y agoYes, the owners can sign over the title. The lien must be paid off with proof of payment suitable for filing at the Department of Motor Vehicles in order to clear the title.
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Can you reposse a car with a expired lien?
Liens don't expire.
Can I trade in my car in another state?
Yes, if you have a clear title with no liens on it.
Can a car title have two liens financial company and bank?
Yes it can. I have done it.
Can a car have a clear title with a lien on it as well.?
No! "clear" means clear! No liens!
Can my car be repossessed if I own it?
If there are no liens against your vehicle, there is nobody who has (or to have) ground to repossess it.
When is buying gap car insurance a good investment?
GAP insurance pays the value of the car minus liens applied to it and only pays in the event of a total loss. If you can get coverage that covers damage (as well as total loss), this would be better. If your liens are substantial in relation to the value of the car, then GAP insurance is not worth it.
Can the property of the same person be attached twice to satisfy debt?
Yes. One of the debts will be subordinate to the other, but you can have multiple liens on property.
What does it mean if there are two liens on the title of a car you buy?
It could mean that money is owed on the car and you could lose it if the person defaults. Or it could mean that there is a mistake and the lienholders neglected to discharge the lien. Whatever the case is, don't buy a car that has any liens on it. If you already bought it, contact the lienholder to see if the lien can be discharged.
Can a lienholder repossess a car if it is titled to another lienholder?
When there are multiple liens on a car, it is possible for either lien holder to repossess it. However, one lien holder is normally in the first position and the other one is in the second position. The one with his name on the title is normally the one in the first position and is the one who gets paid first when a car is repossessed, no matter who does the actual repossession.
Is a statutory lien an involuntary lien?
Yes. Statutory liens include tax liens, mechanic's liens, judgment liens, etc.
How many civil judgment liens can be placed on a piece of property?
There is no limit to the number of liens that can be recorded.There is no limit to the number of liens that can be recorded.There is no limit to the number of liens that can be recorded.There is no limit to the number of liens that can be recorded.
Classifications of liens?
There are few types: construction, security, tax, judgment, artisan... you should check your state statutes (lien laws) for the types of liens and the requirements for each. Most state statutes are available online.
