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. . . . . . . . . . . . 1 Benefits of Electronic Lien Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Escrow Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Lienholder Codes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Transaction Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Salesdealertrack FAQ
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Instead of printing a paper title and mailing it to the lienholder, the NYS DMV transmits title information electronically to the lienholder's ELT service provider. The ELT program lowers processing costs and increased efficiencies for all parties by eliminating the mailing, filing and retrieving of a paper title.
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Under most circumstances, when you first register and title a vehicle that you bought in New York State, you must provide DMV either a title or transferable registration signed over to you as proof of ownership.
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The registrant must sign the required forms (see register and title a vehicle). A second party must have a Power of Attorney to sign a form for another person. If the second person completes either of the above forms, then the registrant's NY State Driver License, Permit, or Non-Driver ID and signature aren't required.
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New York's Electronic Lien Transfer (ELT) Program provides an electronic method for the Department of Motor Vehicles (NY DMV) and lienholders to exchange lien data.
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New York State does not issue a title certificate for any motor vehicle of model year 1972 or older, travel or utility trailer that weighs less than 1,000 pounds, or limited used motorcycle (including a moped).
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There are only nine title-holding states: Kentucky, Maryland, Michigan, Minnesota, Missouri, Montana, New York, Oklahoma, Wisconsin. In the other 41 states, titles are issued to the lien holder of your vehicle until the loan is fully paid off.
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MANDATORY ELT CALIFORNIA. FLORIDA. GEORGIA. NEVADA. NORTH CAROLINA. SOUTH CAROLINA. VIRGINIA.
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Visit or contact the DMV and verify that they received the loan satisfaction documents and any liens are removed from the vehicle's title. A new title will be provided or issued to you at this time.
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