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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.
What else can I help you with?
What is a Lian holder?
I think you mean LIEN (not lian) holder. A lien holder is one (an individual or company) which holds the lien to a secured real or personal property.
What happens to an unpaid business loan?
That's entirely up to the lender. They can pursue it in civil court and obtain a judgment lien that will enable the creditor to seize any property to satisfy the lien. A large lender is more likely to write off a small loan, and your own liability depends on how the company was set up.
If you sold your home and did not sell for enough to pay the first and second mortgage what happens to the second mortgage lien?
Was the 2nd lien included in and discharged in your bankruptcy? If not, then that lien still encumbers the title to the property and is probably a debt you still owe.
If a credit card company has a judgment on you in Tennessee can they take your home if you own it?
no,,,,,,but they can put a lien on it,,,and when you sell your house,,it has to pay the lien amount,,,before you get any money from the house.
How can you have a towing company release a lien with out payment?
A court order is the only legal avenue.
What happens if you no longer have the car and the finance company trying to repossess?
Someone has the car and the finance company has a lien on it. Any sale would have been fraudulent.
Can you import a vehicle into Canada that has a lien on it?
A lien only exists when a vehicle is in the possession of the person/company who are owed monies from it, once released legally, there is no holding on it and the right of lien has been lost
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
What kind of form do you use to get a lien off the title if the company is no longer in business?
mail saying a company is bankrupt
If the title company missed a lien can they make the seller responsible?
Yes, the title company can hold the seller responsible because the lien still exists. It was just a paperwork mistake on the behalf of the title agency. Somewhere down the line, it will interfere with the property if not corrected.
What does a court recording of a lien mean?
It means that the court is officially documenting that a lien exists to protect the lien-holder's interest.
What happens if you no longer have the car the bank is trying to repo?
The lender can sue you in court and obtain a judgment lien. It can use that lien to sieze any other property you have to satisfy your car debt.
If your mortgage was not reaffirmed and it was discharged in bankruptcy do you have to repay it?
Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.
What happens to to second lien if borrower defaults on first lien?
It may be accelerated and payable from the excess proceeds of the auction held by the first lienor in foreclosure, if there is any excess. --- improve the answer: If seond lien is not a superior lien (e.g. Tax lien is superior than MGT lien), when the first lien is foreclosured the second lien will be washed out --- Not exists any more. However, a superior lien, even a second lien, will still survive the foreclosure process which means the property owner (who has bought the property during foreclosure) still needs to pay.
What happens if you sold equipment that has a lien on it not paid for?
you could get sued by the holder of the lien
How do you release an auto lien if the lien holder no longer exists?
If you still owed money when they closed shop SOMEBODY must own your note, and will find you to get you to make payments. If you paid it off but lost the title or payoff note, contact your DMV, they should know you own it outright.
What is a particular lien or general lien of bail?
A particular lien exists only as security for a particular or specific debt owed, and a general lien allows a lien holder to keep possession of a debtor's goods until all debts due from the debtor have been paid.
