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How can you get a title for a car with a out of business lienholder?
Wiki User
∙ 14y ago
Yes you must show proof of trying to contact the original owner in many and thorough ways to the DMV. Once he cannot be contacted you can do a liensale with a DMV paper and it becomes legal.
Wiki User
∙ 14y ago
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Who is the lienholder in car buying?
Who ever is holding the title as collateral for a loan. The bank or finance company typically.
Can you repossess a car if you do not have a written contract on it but you are a lienholder and you have the title with your name listed as lienholder?
If you don't have a "contract", you aren't a leinholder. A lienholder must have a contract and have filed the notice with the county recorders office and the title must state you as the leinholder. If the person is named on a title as a lien holder he or she has the legal option of repossessing the vehicle as it is determined by the laws of the state where the vehicle is registered.
When getting an auto loan, is the title different in California than paying cash for a car?
Yes, taking out an auto loan means that there is a lienholder on the title of the vehicle. Once the loan is paid off, the lienholder is removed and it is owned free and clear.
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
I purchased a 1997 car with a lien The financial institution is no longer in business Cannot register car with lien How do you obtain clear title?
A number of states have a provision where you can go to your department of motor vehicles and file the vehicle as abandoned on your property. They will notify the lienholder/owner and if they don't respond they will transfer the title to you
If your car is going to be repossessed is it legal for you to sell it before the actual repossession?
Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.
Can a car that's repossessed be entered by towing company without authorization?
The order of repossession is their authorization to enter the car. If your car is being repossessed, it means there's a lien on it, and the lienholder called for the repossession to be carried out. You don't own the car - the lienholder does, until you pay off the lienholder and they relinquish the title to you. So yes, that tow company doing the repossession has every right to enter the vehicle they're repossessing.
CAN I GET A LOAN AGAINST MY CAR IF ITS NOT PAID FOR?
No, because, until you get it paid off and hold the title, it's not actually your car, per se - the lawful owner is the lienholder.
How do you get your title for paid out vehicle?
Contact the (former) lienholder to get them to release the title to you.
Do you get the title to your car if you have a loan on it?
No. You don't get the title to your car until any loans against it are paid in full. <><><> In several states, you will get a title document- but it will show the loan company or bank as a lienholder. That title cannot be transferred to someone else until the lien is satisfied (loan paid off)
How do you buy a used car from a private party if it's still being paid off?
There will be a lien on their title from their lender. You need a title in your name with them only as the lienholder. Unless you are paying cash, then there would be no lien on your title.
How do you get a title if the car company went out of business?
No problem - the title has nothing to do with the car company - the title comes from the state.
