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The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some states may take up to three months for a paper title to be produced after an electronic lien release, though this is uncommon. [citation needed]
A lease and release is a form of conveyance of real property involving the lease of land by its owner to a tenant, followed by a release (relinquishment) of the landlord's interest in the property to the tenant. This sequence of transactions was commonly used to transfer full freehold title to real estate under real property law.
In some states, such as New York and Maryland, the transferred title is sent directly to that individual, but the name of the lender or lienholder appears on the title as well. In order to release the lien upon full payment, the lender sends a notarized release or other complementary document to the individual.
When a property has a clear title, that means the title is free from liens or other claims that could call its ownership into question. If you're buying a home with a mortgage, your lender will ...
Electronic Lien Release Service Now Available in Maine Secretary of State Matthew Dunlap reminds lending institutions they now have the ability to release their liens on motor vehicle title ...
The settlement agreement must have total consideration that is at least equal to the fair market value of the property being conveyed. Sometimes, the lender will not proceed with a deed in lieu of foreclosure if the outstanding indebtedness of the borrower exceeds the current fair value of the property; in other cases, a lender will agree since ...
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