Release Of Lien Form For Vehicle

State:
Texas
Control #:
TX-1048
Format:
Word; 
Rich Text
Instant download

Description

The Release of Lien Form for Vehicle is an essential legal document that facilitates the discharge of a lien on a vehicle, which can occur when a loan secured by the vehicle is paid off. This form serves to officially release the lienholder's claim on the vehicle, ensuring clear title transfer to the owner. Key features of the form include spaces for the parties involved, a description of the vehicle, and acknowledgment sections for notarization, making it legally binding. Filling out this form requires accuracy, particularly in listing the debtor, lienholder, and specific vehicle information. Users are advised to consult with legal professionals if uncertain about any details. This form is particularly useful for attorneys, partners, and legal assistants who assist clients in various financial transactions involving motor vehicles. For vehicle owners, it simplifies the process of clearing their title, which is essential for future sales or transfers. Paralegals and associates will benefit from this straightforward form to enhance their workflow in lien release procedures. Ultimately, the Release of Lien Form for Vehicle streamlines the legalities surrounding vehicle financing, reinforcing the importance of maintaining clear ownership records.
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FAQ

To remove a lien recorded on a paper title, you will need: the vehicle title. a release of lien letter and/or other notifications from the lienholder(s) currently named on the vehicle title. a completed Application for Texas Title and/or Registration (Form 130-U)

Once you've finished paying off your car loans, you will be able to get the lien removed. Then you can apply for a new title with the California Department of Motor Vehicles with the lienholder's name removed from the title.

Release details: Provide a statement confirming that the borrower has fully repaid the debt and that the lienholder is relinquishing their legal claim on the property or asset. Include the date when the borrower paid off the debt.

To add or remove a lien on your vehicle title, visit your local county tax office. The title fee is $28 or $33, depending on your county, and must be paid at time of application. Please contact your local county tax office for the exact cost.

If your title shows a lienholder (such as a bank or credit union) on it, your lienholder must give you a notarized lien release showing that you have paid off the loan and are released from the lien.

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Release Of Lien Form For Vehicle