Rhode Island Letter to Lienholder to Notify of Trust
Form popularity
FAQ
A lienholder is a lender that legally has an interest in your property until you pay it off in full. The lender which can be a bank, financial institution or private party holds a lien, or legal claim, on the property because they lent you the money to purchase it.
How does a creditor go about getting a judgment lien in Rhode Island? To attach the lien, the creditor must request execution of attachment within 48 hours after entry of the judgment, then file the execution with the town clerk or recorder of deeds in the Rhode Island town where the debtor's property is located.
In simple situations where you own the vehicle outright and wish to transfer ownership to someone else, all you must do is complete a title certificate. Once you have filled out and signed the certificate, the buyer or recipient can take the title to a local DMV office and officially transfer ownership.
On the title where it says Signature(s) of all purchaser(s), all persons who are buying the car should sign their names. Next to that, the seller should sign their name. On the next line, all buyers and sellers should print their names.
Release ownership by signing on line one on the front of the title. If the vehicle is, or was financed, the lienholder's name appears in the legal owner section and their release with counter signature is required on line two. For step-by-step instructions see the California DMV instructional video here.
Provide the buyer with the title, with all of the seller's information completed. You must complete the Application for Title (the seller's section). You must complete the Use Tax Return (the seller's section). Give the buyer a bill of sale. Give the buyer a lien release.
When you purchase a vehicle in Rhode Island, you are required to pay sales tax on the vehicle and obtain a title in your own name, even if you do not register the vehicle. You will need to complete both a Sales Tax form and a Application for Title (TR-2/TR-9) form.
Prepare your Rhode Island Notice of Intention form. Serve the Rhode Island Notice of Intention as a preliminary notice. Record the Rhode Island Notice of Intention as a mechanics lien. File Notice of Lis Pendens and enforce the mechanics lien.
Both are on the FRONT of the title. The first is in the center of the title and is labeled "Signature of Registered Owner." A second signature is required for the odometer statement. The field is labeled "Transferor/Seller Signature" and is located on the lower left.