[quote=“Adictd2b00st,post:8,topic:26020"”]
for him to register the car, he’s going to need a lien release from the bank, stating that the loan was “satisfied”. so you can pay it online or whatever, but until they send you that peice of paper, he cant register the car
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I asked this to the DMV personally and that is not exactly the correct answer.
YES, it will be much better if you have the lien release form with you. However, you can still register the car to your name even though the car still under lien.
NOW, one thing the lady at DMV asked me:
“Do you really trust this guy (seller)?”
The reason she asked me that was because I entrusted full amount of cash to the seller and he promised me to pay the loan right away. In that situation, I do not have the lien release right away, however, I can STILL register the car to my name with no problem.
The REAL problem is that: According to the lady at the DMV, the loan will automaticallly transferred to my name! :ohnoes: SO, if the guy want to screw you up, he can (by NOT paying the lien in full with your money)! :ohnoes:
Now, couple things to remember:
- no matter what happened, the lien record will always be in your new title! The title is still considered “clean” when you have the new title with lien release form in your hand.
- if the 1st owner the one with lien, your title (2nd owner) will have lien record. however, the future 3rd owner will not have that lien on their new title.
- MAKE SURE you know that the lien is cleared right away! Do NOT do the same mistake like I did! Thank God i got a good guy as the seller!
cheers!