The title is mailed to the leinholder after you register the car. The leinholder just has to sign off on it and give it to you. You can keep the title like that until you sell the vehicle, but if you lose the title and try to get a duplicate, the dmv wont give you one because there is a lein still showing on the title in the computer. The best thing to do once you get it from the leinholder is to take the title to the dmv and see if they can just put the information in the computer. If not, you should apply for another title that doesn't show a lein on it.
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
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.
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.
Lien must be satisfied somehow so title can be transferred.
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
If there is a lien on the vehicle it will be listed on the title.
They put a partial claim on a peice of property like a car or house that must be satisfied when sold to obtain clear title. For example a finance co has a lien on your car until you've paid them off.
The lien holder should send you a lean clearance letter. You can take the waiting clearance letter and the title to the motor vehicle department and apply for a clear title.