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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]
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.
It is an inherent vagary in the lien release law. In the United States , some states only use a conditional waiver on progress payment and an unconditional waiver on final payment. The mechanics lien process can be of great value to claimants in enforcing their claims, if done according to the laws of the various states, or the federal government .
Specific liens: A specific lien is tied to one certain asset and typically used for larger loans, such as mortgages. If you get a mortgage for a vacation home, for instance, the lender will put a ...
Mechanic’s liens. Zoning violations. Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs.
Defaulting on a car title loan can have serious consequences, including repossession of your vehicle and damage to your credit score. ... If there is a lien on the car, you likely cannot get a ...
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