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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.
What is a release of lien?
Obtain a Court Order At times, liens are obtained through fraud, coercion, bad faith, or other illegal means. If you believe your lien is not valid and the creditor will not rectify the situation, you can file a motion in court and ask a judge to remove the lien.
How do I get a lien release in NY?
After action to foreclose the lien is commenced it may be discharged by a payment into court of such sum of money, as, in the judgment of the court or a judge or justice thereof, after at least five days notice to all the parties to the action, will be sufficient to pay any judgment which may be recovered in such
How do I remove a lien from my property in New York?
The lien removal process ensures the borrowers title to the asset is restored. If the borrower has fully repaid the loan or the debt has been settled, the lender is obligated to remove the lien. Without this step, the asset may remain encumbered, and the borrower would not have clear title to the property or vehicle.
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by M BRADY 2017 In New York, there are three ways a lienee can discharge an exaggerated mechanics lien to free her property of the encumbrance. Each method can be costly, time
PennDOT is able to reissue the previous personalized registration plate configuration to the new owner, however, the new owner must pay the full registration
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