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An Indiana lien is a legal claim on a piece of property. Liens exist to guarantee the repayment of debts. They grant the creditor or lienholder the right to claim or seize debtor property or initiate foreclosure proceedings to force the sale of a property to recover a debt.
Can you sell a car with a lien on it?
Selling your car while it is under a lien is possible. There are several ways to do this, including going to a dealership or going through a private buyer.
Can someone put a lien on my house without me knowing?
A lien can be placed on your property without your immediate knowledge.
What is the difference between a title and a lien on a car?
A title document is a legal declaration of who owns a piece of property. A lien is a legal claim to someones property until they satisfy their end of an agreement.
How to find out if a vehicle has a lien?
Make Sure Theres No Lien When Buying a Used Car One of the best ways to avoid delays, extra paperwork, and the hassle of resolving an outstanding lien is to know a cars lien status before buying it. Ask to see the physical title before any money changes hands. If theres a lien, the title certificate will be stamped.
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Releasing a Lien The individual lienholder must sign off in the proper lien release section on the certificate of title; The vehicle owner must obtain a lien release letter; or. The vehicle owner must obtain a general Affidavit State Form 37964 that is signed by the individual lienholder.
How to check if a car is paid off?
Department of Motor Vehicles: Using the vehicle identification number (VIN), you can check a vehicles lien status at the Department of Motor Vehicles. In many places, you can conduct a lien search online using the DMV website. You may also be able to call your local DMV to obtain lien information.
How to find out if a vehicle has a lien on it?
Ask to see the physical title before any money changes hands. If theres a lien, the title certificate will be stamped. If the lien has been released, another stamp often notes that. Sometimes, a seller will produce a letter from the lender or DMV noting the lender has released the lien.
Related links
Mechanics Liens in Indiana-The Extent of the Property and
The mechanics lien is a security device to insure the mechanic or materialman the debt owed for work performed or materials furnished.
To remove the lien from your vehicles certificate of title, the lienholder must sign off in the proper lien release section on the certificate of title.
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