Dont worry about the leinholder getting a title. They can get one easy enough. Remember they do this hundreds of times each year. they know the procedures for getting lost titles,copies of titles,ect. Yup, they even know how to "lose" titles. Just like human beings, huh?
What are the rights of a lienholder on a car title when it comes to repossion of a vehicle?
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.
Contact the (former) lienholder to get them to release the title to you.
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, 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.
A title holding state is one in which the title to a vehicle is mailed to the lienholder, not the customer.
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.
what is the question here?.... Just using a ? doesn't constitute a question
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.
It normally take 30-45 days to get a title. I you financed the vehicle, you wont get the title, the lienholder will get it and send it to you once the loan is paid in full.
If you are financing the sale, you would list your name and address on the title as Lienholder or Secured Party.
If you have no LIENS on the title if there are some you have to go to lienholder and check for payoff dates and obtain copy for DMV & your records
Yes. The lienholder is the rightful, legal owner of the vehicle, and can take possession of that vehicle anywhere.
No, it's 100% legal. That finance company is the lienholder. What that means is that, until you've paid that vehicle off and have acquired the title, the lienholder is the rightful owner of that vehicle, and has every right to reclaim their property when the conditions of the contract are not met by the lessee.
The lien must be filed on the title. Examine title for a lienholder or take the VIN to the local DMV and they usually will verify if their is no lien if you are contemplating purchasing the vehicle.
While this varies by state, there's usually a place marked LIENHOLDER on either the front or back of the actual title document. By inserting your name (or company) on the 1st available LIENHOLDER line, this will be recorded on the new title once the purchaser registers and titles the vehicle.
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
They send a form to the state vehicle title office saying the lien is satisfied or paid off. And possibly a copy to you also.
You request it from the DMV of the state you have it registered in. If they haven't received notification from the lienholder, then you need to contact the lienholder and have them rectify this.
No you cannot. reguardless of whether the vehicle is undrivable or in perfect shape the lienholder must be notified if the car is to be sold scrapped or otherwise. To do so (sell scrap same thing)without telling the lienholder is a crime. only a clear title permits you to sell a vehicle on your own. If you have a lien you must pay that off before the title can be transfered.
Basically, you are financing the vehicle, right? Put a lien on it. All you have to do is fill out a bill of sale and there will be a place for you to list a lienholder. Fill in your information there. There will also be a place for you to put lienholder information on the title, so make sure you fill that part in also. When the buyer takes that to the highway dept to register it, the hwy dept will keep that and give them a registration. After about 2-3 weeks, you should receive the title in the mail with you listed as the lienholder. After you are paid in full by the buyer, then you will sign off as lienholder and give them the title.
The name and address of the lienholder will be on the title under the name of the owner.
Yes, they are the only manner of payment allowed in many states for claims payments.
My father had a lien on my vehicle which is registered in my name and when it was paid off last Dec, we never thought about the title and he has now passed away and his wife refuses to give me the title or have it transferred. What can I do?
No. Dont ever pay for a vehicle without having a title. If they owe money on it, they need to pay it off and get the title before you give them any money. If it is a local lienholder, offer to go with them to pay it off to make sure you are going to get the title and make sure the lienholder understands that the title will need to be signed over to you if you decide to pay it off while you are there. Get something in writing from the lienholder that the title will be sent to you if the title isn't readily available to be picked up at that moment.