I had 2 liens on my title and the primary lien holder released their lien on the car title 1 year before I have it paid off. What does this mean for me?
2006-12-12 02:58:07 · 3 answers · asked by toxic 1 in Cars & Transportation ➔ Other - Cars & Transportation
As I said before, I had 2 liens on my car title. The primary lien holder was the car loan. The second was a personal loan. The primary lien holder(the car loan) has released their lien on the title 1 year early and sent it to the secondary lien holder(the personal loan). So I guess my real question is; Do I still have to pay the primary lien holder or do they have any leagle standings?
2006-12-13 08:36:23 · update #1
It means that they no longer have a claim to the vehicle. If you had 2 liens, you must have paid off one of the notes. Once the other one is paid off you'll get clear title to the vehicle.
2006-12-12 03:05:23 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
As long as there is still one outstanding lien then you do not own the car. I have worked for a dealership where people have by mistake received their titles and legally own the car even though they have not paid for it. Technically this can be a bank error and the person would not have to pay any further as they now have the title of ownership with their name on it.
You have 2 liens on your car so the primary has sent you on lien because that one is probably satisfied but you are still paying to the second.
2006-12-12 03:01:53 · answer #2 · answered by DakotaPR7 2 · 0⤊ 0⤋
it truly is comprehensible that a dealership would promote a vehicle with out having the identify in hand...in the different case they'd choose 2 plenty to carry each and each and every of the autos that were waiting for lein holders to launch identify. That being reported, it truly is unreasonable for them to even ask you to stress a vehicle with out a cutting-edge tag or non everlasting registration. ought to you get a cost ticket, they easily may be the only's to pay for it. you need to go lower back to the dealership and boost the roof over this. you've paid for something that you haven't recieved and at the instantaneous are being advised to interrupt the regulation. they ought to take even with measures are had to carry you interior of compliance of the regulation. good luck
2016-11-25 22:45:59 · answer #3 · answered by ? 3 · 0⤊ 0⤋