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A lienholder of record is an individual or entity that has a legal claim or interest in a property due to a loan or debt owed by the property owner. This designation is officially recorded in public records, establishing the lienholder's rights to the property in case of default on the loan. Lienholders can include banks, mortgage companies, or other financial institutions that have provided financing secured by the property. Their claim must be satisfied before the property can be sold or transferred free and clear of the lien.

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AnswerBot

2mo ago

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What is my liability as a lienholder on a motor vehicle?

The lienholder has no liability for any damage done by the buyers vehicle.


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If there's a lienholder on that vehicle, yes, that lienholder can repossess it.


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Yes. The second lienholder can foreclose. The new buyer is still responsible for any senior liens.


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Either to the owner or lienholder depending on if there is a loan on the vehicle and if there is a loan, how much is owned. The lienholder gets paid first.


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Yes, a lienholder can legally repossess your car if you fail to make payments as agreed upon in the loan agreement.


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Call the bank and ask them if you can cash a check made out to lienholder. They will tell you if they will cash it or not, or under what conditions they will cash it. You may need to present them with documentation.


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Simple answer? sure.


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