Car Title Lien Release Letter. The current address for the lien holder if they have moved Lienholder name (first, middle, last, suffix) certificate of title number borrower name lien amount vehicle identification number year make i certify that the lien indicated above has been paid in full, that i have no further interest in and release all claims to the vehicle.
The purpose of a lien is to provide the lender with financial protection until you satisfy the loan. The current address for the lien holder if they have moved 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 send you the title showing the lien as satisfied or electronically release the lien if your lender participates in ohio's electronic lien and title.
The current address for the lien holder if they have moved
When a financial institution lends money for the purchase of a vehicle, that institution becomes the first lien holder. As a general rule, you can’t sell a car without a clear title, or without making arrangements to clear the title. A person or entity that loans someone money to buy a car puts a lien on the vehicle title that prevents it from being sold without payment of the lien. In most cases, the lienholder will be the bank that provided the financing to purchase the vehicle.