Wisconsin Release of Lien for Vehicle
Description
How to fill out Release Of Lien For Vehicle?
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FAQ
Dealers and lenders are required by Wisconsin law to process most title applications electronically.
Wisconsin is a title to lien holder (lender) state. This means that any title with a lien (loan) listed on or after July 30, 2012, will be sent to the lien holder rather than the owner.
When you purchase a vehicle, receive it as a gift, or you are a new Wisconsin resident, you must immediately apply for a new Certificate of Title in your name. This document proves that you own the vehicle. Never buy a vehicle without receiving a title signed by the previous owner.
You must sign the title over to the new owner and indicate on the title the mileage at the time of the sale. It is also a very good idea to create a bill of sale dated and signed by the new owner. The Division of Motor Vehicles also provides a Statement of Vehicle Transfer (MV2488) for this purpose.
?You may bring the application and lien release to any DMV customer service center offering title and registration services for immediate processing. There is a $5 counter service fee for processing done at the DMV customer service center. ?????Questions?
State law requires Wisconsin dealers to process (electronically or by mail) your application for title and plates with the Wisconsin Department of Transportation (WisDOT) within 7 business days after your transaction. Vehicles purchased from out of state dealers are the purchaser's responsibility to title and register.
If your lending institution informs you that they electronically released their lien on your vehicle, you will receive a new title in the mail unless there is another loan on your vehicle. If your lien was not released electronically, send a valid lien release (see above) to the address below.
Pay what you owe before you sell the vehicle. If you owe money for the vehicle, your title will show a lien holder (a lender). You must pay what you owe and get a lien release from the lender. If your lender holds your title, contact them for instructions on releasing your lien and obtaining the title.
