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Titles with two owners In Florida, vehicles, mobile homes or vessels that are owned by two or more owners can have the ownership joined by either an \u201cand\u201d or \u201cor\u201d.
If the vehicle title indicates a lien for the previous owner, the lien must be released on the title. If the lien has not been released on the title, you will need to submit a Lien Release form with an original signature (no photocopies or faxes) that has been completed by the lienholder.
Once you've paid off your loan, your lien should be satisfied and the lien holder should send you the title or a release document in a reasonable amount of time. Once you receive either of these documents, follow your state's protocol for transferring the title to your name.
Florida is one of the states that allows lenders to keep hold of the title until the end of the loan, when you will own the vehicle outright. You will then receive the title.
To remove a lien from your vehicle in Florida, you have to complete your payments. Then the lien holder, whether is an institution like Southeast Toyota Finance or a credit union, will notify electronically notify the Florida DMV that the lien on your vehicle has been released.
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Generally, it takes two to six weeks, but it will depend on your state's processes.
Yes, you can transfer a NY title with a lien listed on it The NY DMV will accept the title and proof that lien was satisfied when the new owner/your buyer will register and apply for a title.
An initial registration must take place in person at a local service center at the time of titling by submitting the following; Proof of identity (required for all owners) Proof of Florida Insurance. A completed Application for Certificate of Title With/Without Registration (HSMV form 82040)
If filed, once the lien claimant is served with a copy of the notice, the lien must be released or foreclosed upon within 60 days.
In case of private sell or purchase of a vehicle, you can easily complete your title transfer online with eTags, without ever having to wait in line or make an appointment. A transfer of ownership is also needed in the case of a move to Florida.

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