The only way to get the title released is to pay off the lien. Most bank and finance companies will not release the lien until the loan is paid in full. if you are a good customer and have paid the lien as planned, they may release it if the balance is real low, but you still have to pay the loan.
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.
You can't. If a vehicle has a lien on it the lien holder is the owner of record of the vehicle.
If the vehicle has a lien, the title shouldn't be lost, the lienholder should have it. Once the vehicle is paid in full, they will mail you 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.
If you accept a vehicle title that has a lien placed on it you become responsible for settling that lien
No it does not
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.
If there is a lien on the vehicle it will be listed on the title.
To find out if your vehicle has a lien, you can check the title or contact the lender who provided the loan for the vehicle. A lien indicates that there is a financial interest in the vehicle by a lender until the loan is fully paid off.
Legally No. How can you sell something you do not own. As long as there is a lien, you do not own the vehicle outright. Go see the lender and get a lien release, if you no longer have a loan on the vehicle. Remember the lender is part owner of the vehicle until you make that last payment. If you clear the lien buy using the proceeds from the sale, you can guarantee a title within 30 days (required by law) to the new buyer. The lien holder will then release the title.
If you are making a payment, whoever you are making the payment to holds a lien on the vehicle, unless the vehicle was purchased on an unsecure note (not likely). Some states will issue you a title even though there is a lien holder on the title, some require that the lien holder holds the title until the not is paid in full. Look at the title, itf the lien holder section is filled out, that is who holds the lien, they can have the car repoed. there is no lien holder on the title it is clear the car lot is in the sellers area
no, buying vehicle from someone who got the vehicle through a mechanics lien