Once youve paid off your car loan in full, the lender also called the lienholder should contact your local Department of Motor Vehicles (DMV) to release the lien. Once the lien is released, they relinquish their right to repossess your car. Your obligation to them is over and the car is officially lien free.
How to write a release of lien?
Provide a description of the property related to the lien, including the address. Specify the original date of the lien in the appropriate field. Indicate the amount for which the lien was originally filed, if applicable. Include any relevant legal descriptions of the property, if required.
How long does a lien last in Montana?
Except as provided in 61-6-123, the lien continues for 10 years unless the judgment is previously satisfied.
How to get a lien release from MT Bank?
In most circumstances, Customer Service will be able to provide a duplicate lien release, depending on the year and model of the vehicle. If your account has been paid in full for more than 90 days, you can also obtain a duplicate title or lien release online at Vehicle Title My Way.
How do I release a lien on a Montana title?
In cases where it is impossible to obtain a title lien release from the lien holder, please contact your District Court for information about removing a title lien by court order. Still Have Questions? Call the Montana Division of Banking and Financial Institutions at (406) 841-2920.
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A lien release is when the lienholder formally gives up their claim to the vehicles title. It lets the car be bought or sold without strings attached. Youll likely receive a lien release once youve paid off your car loan in full.
How long does it take to get a lien release on a car?
We process lien releases approximately 10-14 days after the loan is paid off, and the lien release card will be mailed to you. If you are selling your vehicle and need a lien release quickly, please speak with one of our lenders. We may be able to provide a lien release within 24 hours.
Related links
Mont. Admin. r. 37.82.438 | State Regulations | US Law
(1) If a recipient upon whose real property the department has imposed a lien under 53-6-171, MCA has been discharged from the facility and has returned home,
I docHub that: The security interest or lien against the following vehicle* has been paid, and I direct the Department of Justice to mark the record satisfied
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