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How long does a lien holder have to release an auto lien after payoff in New York?
Wiki User
∙ 12y ago
Under New York law, a lienholder, "shall immediately upon clearance of payment execute a release of his security interest...." (NY Veh. and Traffic Law Section 2121, Release of Security Interest). However, the law does not provide a penalty for failure to comply. There is also no description in the law of what constitutes "immediately".
Wiki User
∙ 12y ago
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