Minnesota Release of Security Interest - Termination Statement
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FAQ
Minnesota law requires a title be transferred within 10 business days of the date of sale to avoid a penalty. The Anoka County License Centers recommend that all buyers and sellers appear in person to complete the title transfer.
???Typical fees to transfer and title a vehicle: Title Fee: $8.25 (plus $2 for each lien recorded)
Late fee. In addition to any fee or tax otherwise authorized or imposed upon the transfer of title for a motor vehicle, the commissioner of public safety shall impose a $2 additional fee for failure to deliver a title transfer within ten business days.
Minnesota Title Transfer Provide the Minnesota title for the vehicle to be transferred. ... All owners listed on the title must sign the title. Provide the mileage as it appears on the odometer. Provide the name and address of the lien holder, if applicable. Provide the name of the insurance company and the policy number.
You may transfer the title of a vehicle at any deputy registrar office. If a vehicle is purchased through a licensed Minnesota dealer, the dealer will take care of the transfer paperwork.
To remove a lien from a title, the vehicle title must be submitted with the Lien Notification card from the lien holder, properly signed by the lender or with a notarized Notification of Assignment ? Release or Grant of Secured Interest (PS2017) signed by the lender.
