Kentucky Release of Lien for Car
Description
How to fill out Release Of Lien For Car?
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FAQ
Releasing a Vehicle Lien To release a lien, the following documents may be mailed, e-mailed or delivered in person: Original Kentucky Title. Completed Release/Termination Statement (TC 96-187) ? we are only able to provide this form to the lien holder.
The lien is effective from the date on which the security interest is noted on the certificate of title for a period of ten (10) years, or in the case of a manufactured home for a period of thirty (30) years or until discharged.
To be considered for a Specific Lien Release the taxpayer must complete and submit the ?Application for Specific Lien Release to the Department of Revenue.
Kentucky is NOT a title holding state. Once your vehicle is registered with us, you will receive a KY title with a lien held by your lender reflected on it.
The circumstances in which the Department of Revenue will consider a Specific Lien Release are as follows: The taxpayer owns other property, subject to the lien, that is worth at least two times the total of the tax owed, plus any additions to the tax owed, and any other debts owed on the property, such as a mortgage.
Online access to Kentucky vehicle owner, title, lien, and registration records is provided through the Kentucky.gov Online Vehicle Information Service (OVIS) in cooperation with the Kentucky Transportation Cabinet and is governed by the Federal Driver's Privacy Protection Act of 2000 (DPPA).
The Title Lien Statement (TC 96-187) is the only recognized form for transmitting the required information needed to establish a lien on the certificate of title.
(KRS 355.9-513 (2)). The termination must be filed in the county where the lien was originally filed. The termination statement must come from the secured party. Effective July 15, 2004 the termination statement must be signed by the secured party (KRS 186.045).
