Lien Satisfaction Letter Car. This form must be notarized unless submitted by an insurance company to obtain a salvage certificate (california vehicle code §5752).this form cannot be used for a vehicle with paperless title or a vehicle that is two model years or newer. A court order telling the secretary of state's office to issue a title without the lien.
The bank or financing company also may use a “bank stamp” and sign the face of the title to show that the loan has been paid and the lien agreement is terminated. A lien satisfaction is a legal document from your lender indicating that the vehicle loan has been paid in full, thus allowing the state to release the lien listed on your title. A lien satisfaction can be taken to a local dmv where you can apply for a lien free title or.
When your loan/line is paid off and the lien released, a letter of satisfaction or title (applies only to states that offer paper titles) becomes available.
This documents the lender’s financial interest in the car, which must be satisfied before it is sold. Therefore i have no objection to the workshop as well as to ricbl for my repaired vehicle. The bank or financing company also may use a “bank stamp” and sign the face of the title to show that the loan has been paid and the lien agreement is terminated. The date of lien must be the same as that shown on the title certificate.