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Yes, when you buy the new car the remaining amount owed on the old car will be refinanced in the new financing and "transferred" in this manner.
It can not be transferred unless you approve, but you can not sell the old car (Trade in) unless you approve the transaction that does this.
What else can I help you with?
Can you go to jail if you sell a car with a lien on it?
In most states a vehicle can be sold if it has a lien on it. However, if the vehicle is sold and the lien is not paid, it is a criminal offense. It is actually theft.
Can a homeowners association lien impede a mortgage loan?
If you are the seller, notice that the lien must be satisfied before title can be transferred to a new owner. If you are a buyer, notice that the lien must be paid -- thus affecting the amount of your new equity, before title is transferred.
What happens to the lien on car when the company no longer exists?
If the company holding a lien on a car ceases to exist, its assets are usually bought up or inherited by another company. A lien is an asset, so the lien continues to exist and you pay the money to the new owner. If the lien is held by one company but the car manufacturer ceases to exist, the lien stays the same.
Can you buy a new car if you have a lien in your name on another car?
Yes. This happens all the time. If you have a car you're still making payments on (and which will therefore have a lien on it), and you want to buy a new car, as long as your credit is good and you can afford the new payments as well you shouldn't have a problem.
Can parking tickets on an old car get your new car impounded?
If you transferred the plates to your new car...yes
Have a car bought it from pa switched title to NJ pa says has lien but New Jersey says no?
The lien is registered in PA This is normal By the way it may be illegal for you to register this car anywhere knowing of the outstanding lien.
Can your son trade in your car to get him a new car?
Yes, but you would have to sign the papers for the title of your car to be transferred to the new owner.
Can you own a home and be eligible for Medicaid?
Yes, as long as you live in that home; however, the State will file a lien on the home to recover medical expenses. The lien is enforceable when title is transferred to new owner(s).
Are there any car dealerships that will pay off a small lien and sell you a newer car?
Every new car dealer does this on a daily bases.
What does it mean when a homeowners association places a lien on a house?
This lien clouds your title of ownership, probably because you owe the association money. To clear the lien, pay the debt, then ask their attorney for a Release of Lien, which you can file at the local county courthouse. This clears your title.
If a propery deed is transferred and it has a lien on it who is responsible for paying the lien?
The lien doesn't go away. It is still a debt against the person named in the lien and the property is subject to the lien. The creditor could have the property seized and sold depending on the circumstances. The new owner would have to pay the lien to redeem the property or lose the land and any money they paid over to the seller when the land was transferred. That's why you should always have the title examined by a professional before you buy. Any liens that are disclosed by the title examination should be cleared up before you take title.
What does is mean to have a lien on ones property and tenets?
A lien is a security interest in the property. A lien might arise from a loan. If you buy a car with the bank's money the bank will put a lien on the car. If you don't pay the bank back, it can foreclose on its lien and take the car from you. If you have a roofer add a new roof to your house, and you don't pay him, the laws allow the roofer to put a lien on your house. The roofer now has a stake in the house. If you don't pay off the lien your house can be forcibly put up for sale in order to satisfy the lien. I believe "property and tenets" translates into modern speak as "property and belongings".
