Lien Release For Santander
Description
How to fill out Release Of Lien?
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FAQ
When you pay off a vehicle loan, the lender will either release the lien:Manually by marking that the lien was discharged on the front of the title and then sending you the title showing the lien as satisfied. OR.Electronically if your lender participates in Ohio's Electronic Lien and Title Program.
Depending on state laws, paper titles are generally mailed and electronic titles and/or liens are released to the motor vehicle agency approximately 10 business days after the payoff is received. Allow 15-30 days for receipt of your title based on mail time and/or motor vehicle agency process.
How To Remove a Lienholder from Vehicle Title?Complete the Front of the Certificate of Title.Complete the Back of the Certificate of Title.Download and Complete a REG 256 (Statement of Facts) Form.Complete the Transaction with the DMV.29-Aug-2021
Answer provided by. After you make your last payment, your lender will send a notification to the state's motor vehicle administration that the loan has been paid off and the lien will be removed from the title. That title will be held in electronic form by the state's motor vehicle administration.
Wait 10 business days for the lien holder to release the title after you pay off the loan. You should receive the original title through the mail from the lender if there is a paper title. If the lender recorded the lien electronically, it will send you a letter that confirms that it released the lien.
