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Having a lienholder on a title means that a lender or creditor has a legal claim on the property until the debt associated with it is fully paid off. This claim is typically established through a loan or mortgage agreement, indicating that the lienholder has the right to take possession of the property if the borrower defaults on the loan. The lien is recorded on the title, making it public knowledge and affecting the owner's ability to sell or refinance the property without addressing the debt first.
What else can I help you with?
How do you get your title for paid out vehicle?
Contact the (former) lienholder to get them to release the title to you.
Definition of title holding state?
A title holding state is one in which the title to a vehicle is mailed to the lienholder, not the customer.
Can you repossess a car if you do not have a written contract on it but you are a lienholder and you have the title with your name listed as lienholder?
If you don't have a "contract", you aren't a leinholder. A lienholder must have a contract and have filed the notice with the county recorders office and the title must state you as the leinholder. If the person is named on a title as a lien holder he or she has the legal option of repossessing the vehicle as it is determined by the laws of the state where the vehicle is registered.
Does the lienholder need a duplicate title if you have already added them to the title?
Yes, the lienholder typically requires a duplicate title even if they are already listed on the original title. This is because the duplicate serves as an official record of the lienholder's interest in the vehicle and may be needed for their own documentation and security purposes. It is advisable to check with the specific state’s Department of Motor Vehicles (DMV) for their requirements regarding duplicate titles for lienholders.
Do you have to carry full coverage on a rebuilt title with a lien on it?
Your lienholder will almost certainly require it.
Vehicle title no lienholder?
what is the question here?.... Just using a ? doesn't constitute a question
When getting an auto loan, is the title different in California than paying cash for a car?
Yes, taking out an auto loan means that there is a lienholder on the title of the vehicle. Once the loan is paid off, the lienholder is removed and it is owned free and clear.
How do you get your motorcycle title after you paid it off?
The lienholder will sign off on the title and send it to you when they receive your last payment.
How do you lien a title for money owed?
While this varies by state, there's usually a place marked LIENHOLDER on either the front or back of the actual title document. By inserting your name (or company) on the 1st available LIENHOLDER line, this will be recorded on the new title once the purchaser registers and titles the vehicle.
Find lien on lost title of vehicle?
If the vehicle has a lien, the title shouldn't be lost, the lienholder should have it. Once the vehicle is paid in full, they will mail you the title.
Is it safe for me to pay off in cashier check the private sellers loan do the transfer of ownership forms and wait for title to arrive to me after their loan clears?
No. Dont ever pay for a vehicle without having a title. If they owe money on it, they need to pay it off and get the title before you give them any money. If it is a local lienholder, offer to go with them to pay it off to make sure you are going to get the title and make sure the lienholder understands that the title will need to be signed over to you if you decide to pay it off while you are there. Get something in writing from the lienholder that the title will be sent to you if the title isn't readily available to be picked up at that moment.
If your car is going to be repossessed is it legal for you to sell it before the actual repossession?
Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.
