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(b) If the lender is out of business and no longer available, their lien may be released by the following procedure: (1) A certified letter, restricted delivery, requesting a lien release and listing the year, make, and vehicle identification number is to be sent to the lender's address listed on the Motor Vehicle
To release a lien, the lien holder must sign and date two (2) release of lien forms. Mail one (1), signed and dated, copy of a lien release to the Oklahoma Tax Commission, P.O. Box 269061 Oklahoma City, Ok 73126, and one (1), signed and dated, copy of the lien release to the debtor.
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.
The nine non-title holding states are Michigan, Minnesota, New York, Arizona, Kentucky, Oklahoma, Wisconsin, Maryland, and South Dakota. In these states, even if you're financing, the title is sent to you after you take delivery of the vehicle and you typically get it within two to six weeks.
In Oklahoma, you can do this by waiting to receive the lien release notice and original title from the lienholder after making your final payment. Once you receive the lien release, you'll be able to submit it along with a title application to get the car titled in your name.