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A Mortgage Release is where you, the homeowner, voluntarily transfer the ownership of your property to the owner of your mortgage in exchange for a release from your mortgage loan and payments.Depending on your situation, you may be required to make a financial contribution to receive a mortgage release.

A First Lien Home Equity Loan (First Lien) is a mortgage product, meaning it's a loan secured with real estate as collateral. However, First Liens are generally taken out when you've already purchased a home with a traditional mortgage.

Anytime a vehicle/vessel is bought or sold, or there's any change to the registered owner or lienholder (legal owner), the California Certificate of Title needs to be transferred to the new owner. Additionally, titles are legal documents so it's important to keep them accurate and up-to-date.

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.

When the final payment on a car loan is processed by the lender, the lender usually forwards a lien release document to the borrower within a month's time. At that same time, the lender notifies the state agency in charge, usually the Department of Motor Vehicles, that the loan has been paid and the lien released.

Processing Paper Titles Once the loan on the vehicle has been paid in full, the lender will have to pull the title out of storage, have an officer sign off as the lienholder, and mail the certificate of title to you. Lenders tend to estimate that this process can take 5 to 10 business days but it can take longer.

A lien is a claim on property to ensure payment of a debt. When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.