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The lessor can do the title transfer paperwork on your behalf, but it may charge you a processing fee. The lease buyout title transfer process is similar to a private- or third-party vehicle purchase.
When a vehicle is financed, the certificate of title is normally held by the lender, who must release it to the purchaser once the balance is paid off. 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.
Torrens title is a land registration and land transfer system in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.
Conveyance of the document (transfer of title to the property) may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it (for example squatting). In many cases, possession and title may each be ...
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"A delivery order was not regarded as a document of title at common law with the result that the transfer of the delivery order did not effect transfer of constructive possession of the goods. Attornment on the part of the bailee was required (i.e., an acknowledgement that the bailee held the goods on behalf of the transferee).
A chain of title is the sequence of historical transfers of title to a property. It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline.
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