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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]
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 record title system differs significantly from land registration systems, such as the Torrens system, that have been adopted in a few states. The principal difference is that the recording system does not determine who owns the title or interest involved, which is ultimately established through litigation in the courts.
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The foreclosing beneficiary may want or wish to use the information of the title that is found in the Guarantee to assist in the making of financial decisions that are related to the foreclosure. Because the TSG is designed for the benefits of a foreclosing Trustee, such a trustee is always named as the assured.
Those conditions are: 1) the electronic transferable record shall contain all information required for the corresponding paper-based transferable document or instrument; 2) a reliable method shall be used: a) to identify the electronic transferable record as such; b) to render the electronic transferable record subject to control throughout its ...
Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...
(a) An electronic record or electronic signature is attributable to a person if it was the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to which the electronic record or electronic signature was attributable.