This form is a sample letter in Word format covering the subject matter of the title of the form.
Lien Payoff Letter Template For Auto Loan In Phoenix
State:
Multi-State
City:
Phoenix
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
While mechanic's liens can be placed against a financed or owned vehicle, the lien works differently with a financed car. When a motor vehicle is financed, the lender will also have a lien on the car.
Before you can lien the car, you have to file and serve a notice of lien. Then you have to advertise the car for sale, but before you do that you have to send a certified letter to the known title holder. That would be you if the title were filed with DMV but the registered owner has to be notified as well.
No. He would not have a basis for filing a lien against your vehicle unless he obtains a judgment against you through a lawsuit typically. If he attempts to attach your vehicle, you could sue him for wrongful attachment if he has not obtained a court judgment for the amount allegedly owed.
The lienholder is responsible for filing a release of lien in Arizona. The release of lien must be filed with the Arizona County Recorder's Office in the county where the property is located.
A payoff request allows a third party to receive the current balance due to release a lien or facilitate a business transfer (bulk sale transfer or liquor license). To release a lien or facilitate a bulk sale transfer, businesses must be in good standing to receive a payoff request.
Involuntary Lien: An involuntary lien is placed on your vehicle without your consent, usually due to unpaid obligations such as taxes, mechanic's service charges, or other debts.
To get a payoff letter, ask your lender for an official payoff statement. Call or write to customer service or make the request online. While logged into your account, look for options to request or calculate a payoff amount, and provide details such as your desired payoff date.
