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In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan. Car title loans frequently involve high interest rates, a short time to repay the loan (often 30 days), and a loan amount less than the car's monetary worth. The borrower also risks losing the ...
Verify the name: The name on the car title should be the same as that of the person selling the car. If there are two names on the title, it may be necessary for both individuals to sign for the ...
Title insurance offers protection from problems with a property’s title, including liens, ownership disputes and encroachments. There are two types: a mandatory lender’s policy, whose cost is ...
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 ...
In exchange for insurance premiums, the title insurance company conducts a title search through public records and provides assurance of good title, reimbursing the insured if a dispute over the title arises. [13] In the case of vehicle ownership, a simple vehicle title document may be issued by a governmental agency.
Sometimes, signing over a car title can be more difficult, especially if the vehicle belongs to deceased owners or there's a lien on the vehicle. Here are a few unique situations: Signing Over a ...
The cost of title insurance has two components: premium charges and service fees. Title insurance premium rates are based on five cost considerations, including those related to: Maintaining current title information on property local to that operation, i.e., title plant; Searching and examining the title to subject properties
Here’s what it means to have clear title. ‘Clear title’ meaning. A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could ...