questions on how to proceed with lien on title

spoolinhard · May 22, 2019

I purchased a 69 charger as a parts car quite a few years back that was wrecked. I received the title with the parts car. The person that I got the car/ title from title jumped. The title I received was from the previous owner in the 80's. Turns out with todays charger prices, the parts car is not so much a parts car now. The title I received has a lien on it. I did not realize until recent as I wanted to put the car in my name. I did not care before as I bought it as a parts car. I did some research and the bank on the title is defunct. I do not know how to get ahold of the person whos name is on the title. I have yet to ask the DMV. Any recommendations on how to proceed?

Bb70charger500 · May 22, 2019

Got a picture of the title? Usually the bank holds the title till the note is paid then they initial next to the place that says you own on it ! The owner never gets the title till it's payed for ! Just like today's autos the title is more then likely clear

gkent · May 22, 2019

A "lien" does not mean there is any outstanding loan against the car, when loans are paid off the lenders aren't always diligent in closing off the lien. And if the bank is defunct then who cares even if there was. Chances are the original loan was cleared when the car was wrecked - insurance companies usually make sure any lien holder is paid first. If anyone assumed the loan, its more than likely they've chased the borrower down by now and got paid one way or another - you can't just say to a lender "I don't have the car anymore" and they go "Oh, ok, sorry we bothered you", they would have collected. Personally the only reason I'd put any effort into it would be because any buyer will use it as a bargaining chip.

slimt · May 22, 2019

I thought a Title was held by the bank till paid out? May i ask is the payout alot? None of my business I know but ?

BeatersRus · May 22, 2019

is the car from the same state as you??
perhaps you should go Get a Title/reggie First,without using any of that paperwork.
act like that title doesnt even exist.

a simple bill of sale turned in to the DMV and avoid mentioning any of that lien nonsense?
do they accept a bill of sale for your state for 1969 vehicles?
if so,id drop what 25? bucks on it get back a title and assess.

no matter what,if its small change,and you can make good coin off the charger,
it seems worth it.

i Just went thru this with a heavy equipment trailer and the bank was still in business and provided a lien release to me.
it had been paid off Years ago but the owner never filed for a release.

spoolinhard · May 22, 2019

Bb70charger500 said:
Got a picture of the title? Usually the bank holds the title till the note is paid then they initial next to the place that says you own on it ! The owner never gets the title till it's payed for ! Just like today's autos the title is more then likely clear

I never thought of that, that's a good point

spoolinhard · May 22, 2019

Stanton said:
A "lien" does not mean there is any outstanding loan against the car, when loans are paid off the lenders aren't always diligent in closing off the lien. And if the bank is defunct then who cares even if there was. Chances are the original loan was cleared when the car was wrecked - insurance companies usually make sure any lien holder is paid first. If anyone assumed the loan, its more than likely they've chased the borrower down by now and got paid one way or another - you can't just say to a lender "I don't have the car anymore" and they go "Oh, ok, sorry we bothered you", they would have collected. Personally the only reason I'd put any effort into it would be because any buyer will use it as a bargaining chip.

Honestly, I can't see selling the car with the word "lien" on the title. So I would have to get it in my name first

spoolinhard · May 22, 2019

slimt said:
I thought a Title was held by the bank till paid out? May i ask is the payout alot? None of my business I know but ?

To pay off the lien, or the value of the car?

spoolinhard · May 22, 2019

BeatersRus said:
is the car from the same state as you??
perhaps you should go Get a Title/reggie First,without using any of that paperwork.
act like that title doesnt even exist.

a simple bill of sale turned in to the DMV and avoid mentioning any of that lien nonsense?
do they accept a bill of sale for your state for 1969 vehicles?
if so,id drop what 25? bucks on it get back a title and assess.

no matter what,if its small change,and you can make good coin off the charger,
it seems worth it.

i Just went thru this with a heavy equipment trailer and the bank was still in business and provided a lien release to me.
it had been paid off Years ago but the owner never filed for a release.

I believe that it is a NE title. Here in Iowa we need a title with a bill of sale before anything can be registered. The lady at my DMV is going to hassle me if she has a reason to, she's just that type. Some good points were brought up, guess I will just have to take the title in and find out. I'm afraid that she will refuse it and tell me to get the previous owner to supply me with another title.

BeatersRus · May 22, 2019

The person that I got the car/ title from title jumped.
The title I received was from the previous owner in the 80's.

i have to ask what you meant by this?
is the title Signed in the New owners spot?
or blank?
if its blank roll with it and then im pretty sure theres a form to get a dead bank lien off it.
can i make a suggestion?
if you already know your dmv ladies like i know mine,
because there Are 2 that are pitas and 2 that are absolute angels to deal with..
why not go to a Different branch and then at the window hit her up with the question of what to do,
see what she says and Then if you like the answers whip out your paperwork and get it done.

Bb70charger500 · May 23, 2019

When the lien was payed off the owner got the title back . It will show it on it till he sells the car as there not going to print a new title . Just write up a bill of sale with his bake on it and bring it with you they will transfer the title to you no prob .

spoolinhard · May 23, 2019

BeatersRus said:
The person that I got the car/ title from title jumped.
The title I received was from the previous owner in the 80's.

i have to ask what you meant by this?
is the title Signed in the New owners spot?
or blank?
if its blank roll with it and then im pretty sure theres a form to get a dead bank lien off it.
can i make a suggestion?
if you already know your dmv ladies like i know mine,
because there Are 2 that are pitas and 2 that are absolute angels to deal with..
why not go to a Different branch and then at the window hit her up with the question of what to do,
see what she says and Then if you like the answers whip out your paperwork and get it done.

It's blank.

BeatersRus · May 23, 2019

i went surfing thru your states dmv site,closest thing i can even find is this maybe?
411168..zip Cancellation of Security Interest 411168. Vehicle Services
page 4 of additional documents needed < > off the main page
https://www.iowatreasurers.org/mvfaq.php#vehicle_title_process

and if its blank you are all set,
heck you could just call the dmv in a different town and ask them over the fone.
just ask them what to do if theres a lien from a Dead bank on the title and see what they say,you dont even have to give them any info.

scottmann27 · May 24, 2019

If like the titles in SC should have a place for them to sign off the lien. Just get anyone to sign it. I use to sign them and a car lot that I worked at. May even be on back of title

dsd1967 · May 24, 2019

I just had the same issue with an Ohio title on a mid 90s Jeep Cherokee. Took the title in to the title agency and they didn’t bat an eye. Paid my taxes and title fee and it was mine with a clean title. I would roll with it and try for a new title. Worst they can say is to try again

khryslerkid · May 24, 2019

When I lived in Maryland, you received a title with the lien on it. Once it was payed off you recieved another title without any lien. That's the way it used to be.

I guess the DMV will run a check on it to see. If it's clear, you're good to go.

Another thing I do is use a reputable tag and title place instead of the DMV. They seem to know more about how things are done more than the DMV. Or the DMV won't always divulge how to get around different things. Anyway good luck!

YY1 · May 24, 2019

It could be a mechanics lien or a storage/impound lien.

The DMV should tell you who owns the lien.

questions on how to proceed with lien on title

spoolinhard

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Bb70charger500

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gkent

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slimt

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BeatersRus

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spoolinhard

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spoolinhard

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spoolinhard

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spoolinhard

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BeatersRus

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Bb70charger500

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spoolinhard

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BeatersRus

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dsd1967

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khryslerkid

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YY1

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