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Merge Payment Title: easy document editing

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Most of the time, lenders keep the title on file until the associated loan is paid off, at which time they send the original title document to the vehicle's owner. In some states, owners may receive the lien release instead. Once you have possession of the title, it's important to keep it in a safe place.
To remove a lien, you must send the DMV: form Application for Duplicate Title (MV-902), checked to show that a lien release is included with the application, and. ... the original title certificate that shows the lien, and. A form MV-901 or letter from the loan company that states that the lien was satisfied.
You can only remove the lien holder if the loan has been completed satisfied with the lender. The lender will often send you confirmation of this automatically through the mail along with instructions to remove them from the title. However, you may also have to contact the lender.
form Application for Duplicate Title (MV-902), checked to show that a lien release is included with the application, and. The $20 fee for a duplicate title certificate, and. The original title certificate that shows the lien, and.
Complete the Front of the Certificate of Title. ... Complete the Back of the Certificate of Title. ... Download and Complete a REG 256 (Statement of Facts) Form. ... Complete the Transaction with the DMV.
If you don't receive the lien release, submit a request to the lender for proof that the loan has been satisfied. This request can be made through the DMV or directly to the lender. Visit the DMV and verify that they received the loan satisfaction documents and any liens are removed from the vehicle's title.
As a general rule, you can't sell a car without a clear title, or without making arrangements to clear the title. Failing to satisfy the lien holder can place you at risk of legal action. The lien holder has the right to repossess your car if you sell it without paying the loan it took against the vehicle.
Find out how much the vehicle is worth. Don't trust the assessment of a friend, neighbor or used car dealer. ... Find out how much you owe. ... Sell to a dealership. ... Get a quote from a dealership. ... Transfer the loan to the buyer. ... Use an escrow service. ... Refinance with a local lender. ... Meet with the buyer and lien holder.
It's not illegal to sell a vehicle with a lien on it, as long as the sale allows you to pay off the loan and transfer the title to the new owner. Remember, if you still owe on a vehicle, the lender owns the car and, in most states, holds the title. Many states make it illegal to sell a vehicle without a title.
Visit the DMV and verify that they received the loan satisfaction documents and any liens are removed from the vehicle's title. A new title will be provided. To obtain a lien release you may be asked to provide a copy of the Title for the vehicle that you are requesting be released.
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