probably not your gonna need the exact name that was on the title
That would be counterproductive if the title you hold is in your name. If you are holding the title for someone else, a lien would only make a difference when they sell the car--and it has to meet certain criteria.AnswerNo. You cannot place a lien on your own property legally since there is no separation of title. A lien gives the lien holder a legal interest in the property of another. If you are holding property in your name for someone else, the title is in your name and you cannot place a lien against it.
The lien must be paid off and the title must then be signed over to you. You cannot insure and register the car in your name without a title.
The effect of a lien is to cloud title based on monies owed. The title cannot change hands without the removal of the lien, meaning the lien amount is paid before title is clear.
A vehicle cannot be sold without a clear title. A clear title can only be obtained when all lien holders have been paid or have agreed to sign off on the lien.
A vehicle with a lien holder named on the title cannot be traded, transferred or sold without the title being cleared by the lien holder.
You go to the DMV in your area and have them do a lien check. If the title is from out of state you must contact that state dmv for the same purpose. If a lien-holder is noted on the front of the title, you may also contact them to determine if the lien has been released. Obtain a copy of the release statement.
Contact the finance company and get a lien release from them. With that lien release you can have them removed from the title. You cannot get the lien release unless you have paid the loan off in full.
The borrower would have a copy of the title but on the title itself the lien holder (lender) would be noted. That would mean that the title is not clear and the vehicle cannot be sold, traded or transferred in any manner.
A person cannot add a name to a title if the bank is the lien holder unless the bank agrees to the title name addition. A person could approach the bank and ask them to add the name to the title.
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
The buyer/borrower should have a copy of the title, as it is needed to register the vehicle. The title will have the name of the buyer and the name of the company holding the lien on the vehicle.
Your lien holder wants to be paid before releasing the car. You should consult with the attorney who is representing you in your bankruptcy. You cannot transfer title because you don't have clear title to transfer.