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What do I do with a Maryland notice of security interest filing?
Retain the SIF and lien release along with your certificate of title until the vehicle ownership changes or you apply for a clear title. These documents together constitute a clear title. If the vehicle is then sold or otherwise transferred, the owner would provide the transferee with both documents.
What is a Maryland notice of security interest filing?
If the lienholder sends you the title and a release of lien letter, youll have to take those to your BMV or DMV and fill out paperwork to get a new title reflecting the change in ownership.
What to do with a lien release letter?
Security interest is an enforceable legal claim or lien on collateral that has been pledged, usually to obtain a loan. The borrower provides the lender with a security interest in certain assets, which gives the lender the right to repossess all or part of the property if the borrower stops making loan payments.
How to get a copy of a lien release in Maryland?
Understanding Your Maryland Car Title The title contains identifying information for your vehicle, like the make, model, VIN, or vehicle identification number. It will also have your name as the owner and a section detailing when the car was bought and similar information.
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