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Car Forum / Driving, Maintenance, Tuning / General Car Topics / May 2005dmv california - lien released question
I paid off my car loan and recieved the State of California Certificate of Title which says I am the Registered Owner. The Bank has signed the bottom Lienholder Release section. On the DMV site they say I have to transfer the Title within 30 days "Submit your title to DMV within 30 days to remove the lienholder's name, and DMV will issue a new title in your name. " My question is: has this already been done by the bank? (It's a large bank). On the title it says I am the "Registered Owner" is that the same as having the title in my name? > I paid off my car loan and recieved the State of California Certificate > of Title which says I am the Registered Owner. The Bank has signed the [quoted text clipped - 6 lines] > My question is: has this already been done by the bank? (It's a large > bank). Almost certainly not. That costs money (not much, compared to the price of the vehicle, but it's still an entry put in the books with red ink instead of black) and I highly doubt that your bank, no matter how big, nice, freindly, etc, is going to pay for it. > On the title it says I am the "Registered Owner" is that the same as > having the title in my name? No. Name on title and name on registration can be different. For instance, I'm given reason to believe that a blind man in California can OWN a car (his name on the title), but not REGISTER it (his name on the registration, which is what it takes to make it legal to put it on the road) because a registration can only name a licensed driver. In any event, the name of the entity on the title takes priority in any sort of dispute between title and registration. Hie thee to the DMV and get the new title. As long as you leave things "As is", the bank is still legally part-owner of your car in the eyes of the DMV, and will remain so until you give the DMV their fees to remove the bank from the title (It all boils down to "DMV wants some money, and they'll get it by fair means or foul")  SignatureDon Bruder - dakidd@sonic.net - New Email policy in effect as of Feb. 21, 2004. Short form: I'm trashing EVERY E-mail that doesn't contain a password in the subject unless it comes from a "whitelisted" (pre-approved by me) address. See <http://www.sonic.net/~dakidd/main/contact.html> for full details. But no where on this Title form does it say the bank is the owner. The only "owner" term on the whole document has my name as the "Registered Owner". The bank is listed under the lien section and they have signed it and released it. > But no where on this Title form does it say the bank is the owner. The > only "owner" term on the whole document has my name as the "Registered > Owner". The bank is listed under the lien section and they have signed > it and released it. <shrug> Have it your way... I'd be getting the fresh title. SignatureDon Bruder - dakidd@sonic.net - New Email policy in effect as of Feb. 21, 2004. Short form: I'm trashing EVERY E-mail that doesn't contain a password in the subject unless it comes from a "whitelisted" (pre-approved by me) address. See <http://www.sonic.net/~dakidd/main/contact.html> for full details. I talked to the DMV and having possession of the Title with me as the Registered Owner and the bank having signed the lien release gives me the ownership of the vehicle. In the computer system of the DMV they will still show a lien against the car (which is in disagreement with the actual paper Title). I could submit my Title to the DMV and they will change their computer system record however they will take 2-4 weeks and keep possession of the Title during that. I am exporting the car and importing into Canada next week. Canada needs to see a document showing me as the owner of the vehicle with no liens against it. This document does that. If I lose the Title document I will definitely have some issues but as long as I don't lose it between now and when I import the car into Canada I should be fine. > I talked to the DMV and having possession of the Title with me as the > Registered Owner and the bank having signed the lien release gives me [quoted text clipped - 13 lines] > long as I don't lose it between now and when I import the car into > Canada I should be fine. Having worked in selling used cars in SC, your ideas cover the way it works here. And as you said, 'as long as you don't lose the title'... Even then, the orignal lienholder can help you get a duplicate title with the lien released by providing, with the ap'n for dup. title, a proper "satisfaction of lien" form. Also, if you sell it as it now stands, when the new purchaser applies for regis. and title, the new title comes back showing him as reg'd owner and with no lien showing. One heads up to watch for: selling to another country MAY enter new worms into the mix. If that be a probability, DB's idea eliminates any chance for "worms" in that ordeal as well as many other possibilities. HTH, s |
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