the lienholder can repo at anytime as long as there is NO breach of peace.
AnswerLook on the title to the vehicle. 1
A lien gives you the right to hold the property of another as security for the carrying out of an obligation.
no they do not
What are my rights as a lien holder if the customer does not have full coverage even after it is part of his or her contract with us.
the bank or lien holder will have more rights
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.
Unless you have a lien on the car, you have no rights as far as repossessing the vehicle goes. If you send a repo agency - even as a joke - and they collect the car while you have no legal claim to it - then both you and the repo agent have committed theft.
Where I live the title can have Lien filed on it by anyone who has worked on or supplied parts for a vehicle. Also liens can be filed by any bank or lending institution who can get you to sign a form using the vehicle a s collateral.
There is no transfer of ownership - the lie holder was always the one who had ownership of the vehicle.
An Authorized Recovery agent working on behalf of the lien holder can repossess the vehicle from the lessee. It is Illegal in the state of Indiana for someone who works for/ at the car lot or for the lien holder to repossess a vehicle under the car lot/ lien holder's company name. The duty of repossessing a car must be hired out to a recovery agency.
Does this vehicle have a Lien on it?
Contact the DMV for a replacement title. When you do this, they should also be able to give you the name of all lien holders on the vehicle. This is the easiest way.
You can't. If a vehicle has a lien on it the lien holder is the owner of record of the vehicle.
Yes--as to that lienholder's lien only.
free vehicle lien check ?
Yes. Generally, they can assign their rights under the lien.Yes. Generally, they can assign their rights under the lien.Yes. Generally, they can assign their rights under the lien.Yes. Generally, they can assign their rights under the lien.
If you have a lien on your vehicle, you can sell it for any amount. The vehicle is still subject to the lien which means that the purchaser can lose the vehicle if the lien holder collects on it.
Well, you own the vehicle subject to the lien. You cannot sell or refinance the vehicle until the lien holder is paid. If you don't pay the lien, the lien holder can repossess the vehicle. So you own it subject to your paying the loan.
If you accept a vehicle title that has a lien placed on it you become responsible for settling that lien
No. Once a lien has been enacted as a forced sale the person loses rights to the vehicle. Redemption options do not apply to vehicles.
Yes, he can cause damage, but then he has to pay for it. In the majority of cases if the vehicle property is damaged the lender is responsible. not the repo agent. Repossessing agents in the majority of states are required to have a "hold harmless" agreement signed by the lender/lien holder. This releases the repo. agent from being responsible for any damages incurred to the vehicle or other property.
Either pay off the lien and then sell the vehicle, or sell the vehicle and use the money to pay off the lien.
A Mechanic's Lien is also known as a Construction Lien. Construction Lien rights are available to anyone providing material, labor or services for the improvement or repair of real property. To establish valid lien rights each state has certain procedures such as Preliminary and Warning Notices that must be delivered within specific time periods. If you are not familiar with the lien laws requirements of the state where you are working, it would be prudent to use a company that provides lien law administration or notice service. A Mechanic's Lien is mistaken by many to be a Vehicle Lien. Some states do allow those who tow, store or garage, and repair vehicles (vessels & aircraft) to place a lien on the title and to either ultimately take over the title or auction the vehicle to cover the outstanding debt. Vehicle Liens are complicated by a multitude of actions over a specific time line so it is highly recommended to use a vehicle lien company.