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The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
In North America, a salvage title is a form of vehicle title branding, which notes that the vehicle has been damaged and/or deemed a total loss by an insurance company that paid a claim on it. The criteria for determining when a salvage title is issued differ considerably by each state, province or territory.
Even once rebuilt and inspected, a branded vehicle must retain a permanent record of its traumatic past. Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap.
When the vehicle title is lost, the owner on record may replace the lost title by completing an application with the state that issued the current title. Online lost title applications are available for several states including Maine , Wisconsin , Virginia , Michigan , New York , Indiana , Maryland , South Carolina and Massachusetts , as well ...
For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. 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 ...
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