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What are the lien holders rights?

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2008-02-22 11:13:43
2008-02-22 11:13:43

A lien gives you the right to hold the property of another as security for the carrying out of an obligation.

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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.

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AnswerLook on the title to the vehicle. 1

No, a Lien holders "Single Interest" insurance policy, only covers the lien holders interest in the property, not the interest of the previous owner or foreclosed buyer. When a lien holder places it's own policy on a foreclosed or otherwise uninsured home it means that the buyer chose not to have insurance. The Lien Holder has placed the coverage to protect it's own interest. This type of policy is also referred to as "Single Interest Policy".

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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.

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A prudent buyer would require that the lien be paid off before the sale. If not the buyer would purchase the rights subject to the lien.

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Yes, they do have rights in a corporation.

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Show that you are willing to pay by paying and the lien will go away.

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.

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What are the rights of a lienholder on a car title when it comes to repossion of a vehicle?

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No, the first lien hold cannot claim or collect any monies from the 2nd lien holder. The lien holders sole recourse is with the borrower.


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