Assignment And Bill Of Sale With Lien
Description
How to fill out Assignment And Bill Of Sale Of Equipment And Machinery?
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FAQ
The easiest way to sell a vehicle with a lien is to conduct the sale at an auto dealership, particularly if the car is going to be a trade-in. Dealers work directly with the lien holder listed on the title, which is usually a credit union or a bank, to facilitate the transfer of ownership.
The takeaway. It's perfectly legal to sell a car with a lien, as long as you pay off the loan first.
Vehicles. A garage keeper can register a lien against an owner's vehicle for repairs, parts or storage that have not been paid for.
Yes, you can transfer a NY title with a lien listed on it The NY DMV will accept the title and proof that lien was satisfied when the new owner/your buyer will register and apply for a title.
If you find that there is a lien, it must be removed before you can register the car with your province or territory.