Lien Release Form South Carolina With Lien
Description
How to fill out South Carolina Unconditional Waiver And Release Of Claim Of Lien Upon Final Payment?
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FAQ
DMV TITLE APPLICATION FORM 400 The South Carolina DMV Form 400 is commonly used by dealers when selling a vehicle and placing a lien in their business name or another finance company's name.
Ing to the mechanics lien law, after your notices are served timely the lien must be filed in the county recorder's office in the county where the property is located. The lien may either be served by certified mail, return receipt requested, or personally served on each of the parties.
South Carolina requires payment to be made first, and that the lien waiver should be in writing. Both conditional and unconditional lien waivers are allowed, as long as the payment associated with the waiver has been met. South Carolina has no requirement that a written lien waiver must be notarized.
With South Carolina ELT and its connection with the South Carolina DMV, finance companies that receive a vehicle payoff will be able to release the lien on the vehicle through the SC ELT system. Upon lien release, titles will stay in electronic form, but can be printed if you choose.
First assignment completed on title: buyer's name and address, lienholder information (if applicable), odometer reading, sales price, date of sale, seller's signature, buyer's signature. If assignment on title does not have section for sales price, a bill of sale must accompany paperwork.