An insurance company generally does not pay the lien holder directly. The vehicle owner is responsible for paying for insurance coverage and will often deal with the insurance company themselves after a collision has taken place.
depends......first party claims, either to insured and shop...just the shop......insured and lien holder, or insured only if no lien holder is present..........second party claims....can be to the owner only (generally) if requested.......
The owner of the car listed on the insurance policy.
You don't. The only one who can fill out a lien relese is the lien holder. As the owner of the car you are not the lien holder. Take the title to whomever holds the lien and they will release it.
You can't. If a vehicle has a lien on it the lien holder is the owner of record of the vehicle.
Yes, you can, but the new owner will then be responsible for lien. Encumbered property can be sold if the owner is willing to assume responsibility for the lien.
Yes the owner of the property may give the lien holder a quitclaim deed if they are unable to pay the note and wish to forfeit the property. This is often done to avoid forclosure.
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.
Lien holder is paid first, any balance goes to registered owner.
An assignee of a lien is the new lien holder.
The lien holder from the previous owner needs to sign off on the sale before you can change the title. If you buy the car, but still owe money on it, you can get the title in your name with the previous owner as lienholder.
The same as before they died. They still hold the lien and it must be satisfied.
Yes. As the "owner" of the debt, they can sell, or assign, the debt to anyone they please.
No. If processed correctly the check will be made out to you and the lien holder.No. If processed correctly the check will be made out to you and the lien holder.No. If processed correctly the check will be made out to you and the lien holder.No. If processed correctly the check will be made out to you and the lien holder.
Laws on this vary by jurisdiction.
This is only possible if the owner must honor a debt to the lien holder. In the state of California court can demand the owner pay the other person and placeva lien to assure they follow through.
If an insured car is totalled the insurance company will issue a check made out to the lien holder and the owner jointly, both the lien holder and the owner have to endorse the check to cash it. If the value of the car is more than the lien, the lien gets paid off and the owner gets the remainder. If the value is less than the lien, and therefore, the insurer pays less than the outstanding balance on the loan, the lienholder will be entitled to it. Additionally, the owner will be liable for the balance owing after insurance proceeds are credited.
The lien holder would. A lien holder has a financial interest in the property
A lien holder is someone who has a financial interest in a car. It could be the bank you financed it from, or someone else who the car owner owes money to. The car owner's name is on the title with the lien holder's name so that you can't sell the car without the lien holder signing the title...this means that you don't owe the lien holder any money on the car. The car is now 100% owned by the title owner.
Certainly, liability insurance has nothing to do with who owns the vehicle. It deals with protecting the owner of the vehicle if sued as a result of an accident. Collision and theft protect the owner of the vehicle from loss.
A person can be the lien holder for anythimg
A lien on a property usually means that when the property is sold, the lien holder gets his money before the owner gets a penny. Back taxes get paid first, then liens get paid, and finally the owner.
you will have to find out who has a lein on it have them fill out a fourm of lein satisfy. In most states a lien holder is recorded on the title and the lien holder will keep the title until the lien is paid off. After the lien holder is paid off, they will sign the title to release the lien and give/send the title to the owner. The title office can tell you who has a lien on the title.
The lien holder is a person or business who have a concerned interest in a vehicle. Most times a bank or finanacial institution. You need to find the lien holder which is located on the title or can be found be contacting your DMV and giving the VIN and then finding their phone number, I would try calling information. Contact the lien holder and ask if the lien is still on the vehicle or what you need to do about having the lien removed. Sometimes a lien can still be on a vehicle even though it has been paid off, if the owner did not apply for a new title to clear the lien.
A lien holder on a car title or car loan just means that person is the full owner of the car. If your car gets totalled or goes into default, the lien holder can retrieve the car from you because they have full ownership of the car. Lien Holders are used for lending purposes. This means the lien holder has no liability responsibility. The registered person on the car is required to have liability coverage on the car according to law and not hold the lien holder liability on the car if the car gets damaged or totaled. Lien Holder means they fully own the vehicle until the loan is paid off.