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A lienholder is a person or bank or institution that gives someone a loan, so the answer is yes. A private person, friend, boss, parent, or anyone else can be recorded as the lienholder on a vehicle.
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Lien holder on your vehicle?
The lien holder is the person or firm, you borrowed the money from to purchase the car.
Can i Put a lien on a vehicle to get my name on the title?
A person or a company that puts a lien on a vehicle is a "lien holder" that is on the title. It is not recognized as ownership.
Who owns the vehicle you or the lien holder?
Well, you own the vehicle subject to the lien. You cannot sell or refinance the vehicle until the lien holder is paid. If you don't pay the lien, the lien holder can repossess the vehicle. So you own it subject to your paying the loan.
How do you receive a vehicle title that still has a lien?
You can't. If a vehicle has a lien on it the lien holder is the owner of record of the vehicle.
How do you locate a lien holder?
The lien holder is a person or business who have a concerned interest in a vehicle. Most times a bank or finanacial institution. You need to find the lien holder which is located on the title or can be found be contacting your DMV and giving the VIN and then finding their phone number, I would try calling information. Contact the lien holder and ask if the lien is still on the vehicle or what you need to do about having the lien removed. Sometimes a lien can still be on a vehicle even though it has been paid off, if the owner did not apply for a new title to clear the lien.
Will an impounded vehicle be turned to the lien holder?
Not unless the lien holder goes and retrieves it from impound themselves. The reimbursement of government fees (federal, state, or municipal) outweighs the priorities of the lienholder. When a vehicle goes into impound, the agency which impounded the vehicle puts their own lien on it, and that lien takes priority over the original lien. If the vehicle is not retrieved from impound, it will be auctioned off, and the lien holder basically gets shafted in the process. The person who took the lien out on the vehicle will owe the remaining balance still, and one of the money the agency auctioning the vehicle makes will go towards reducing the amount owed to the lien holder. To that end, you're better to let the lien holder repossess the vehicle and auction it, rather than have it impounded.
Does the lien holder of a vehicle have the title?
No it does not
Can a lien holder file an ins claim on customer's auto policy?
No a lien holder can not file a claim against the insurance company as they are not the named insured, you are. Although if there is a lien on the vehicle the insurance payment for damages to your vehicle will be in your name and the lien holder name. They then might require that you fix the vehicle so they can protect their interest in the vehicle. each lien holder is different. CORRECTION: If the lien holder is named on the policy and the vehicle has been repossessed, the lienholder has a right to recovery under that policy.
Does the lien holder have the right to repossess your car if you left on a handshake and you had no contract and it was a private lender?
Yes. If the lien is valid, a written contract is not necessary and the holder can legally repossess the vehicle in conjunction with the existing laws of the state in which the vehicle is located or in some cases where it was sold.
What does a lien on a car title mean?
The lien holder (PERSON OR FINANCE COMPANY THAT HAS AN INVESTMENT INTEREST IN VEHICLE) must be paid off prior to you selling vehicle to another party.
How do you put lien on car that you are selling to a private party?
Record lien on title- as 1st lien holder
How much can a vehicle be sold for once a lien has been secured?
If you have a lien on your vehicle, you can sell it for any amount. The vehicle is still subject to the lien which means that the purchaser can lose the vehicle if the lien holder collects on it.
