The Texas Department of Motor Vehicles notes that to put a lien on a car, an individual needs to go to his local county tax office with the vehicle title and an application for a title in his specific state. There is also a fee. However, the steps to put a lien on a car could vary depending on the state.Continue Reading
Attorney Bryant Martin on Avvo also notes that the original owner of the vehicle might want to list himself as the legal owner on the pink slip so the vehicle's new owner is not able to sell the vehicle again without fully paying off the promissory note. It is also a good idea for the legal owner to require the vehicle's new owner to have property and liability insurance and make sure the legal owner is listed on the policy as an additional insured.
According to the Virginia Department of Motor Vehicles, a lien may be placed on a car if it is refinanced or if the buyer does not pay for the car with his own money. If the original owner is listed as the holder of the lien, the DMV can refuse to retitle the lien if the new owner claims the title was lost and applies for a new one, notes business attorney Mark Klinkenberg on Avvo.Learn more about Credit & Lending
When filling out a car title, you need the vehicle title, its identification number, the release of lien and a bill of sale. It is important to visit your local DMV a few weeks in advance and receive a list of the exact requirements for the title application.Full Answer >
The required documents to sell a car vary by state, but may include a bill of sale, certificate of title, release of lien and odometer statement, according to DMV.org. It is necessary to have signatures from both the buyer and the seller.Full Answer >
Conduct a federal tax lien search by contacting the Secretary of State's office for your state, calling the Internal Revenue Service centralized tax unit at 800-913-6050 to inquire about tax liens on your own property, or searching the local recorder's office to find recorded liens, advises Zacks. You can also utilize online databases such as ones available on LexisNexis.com.Full Answer >
Transfer a vehicle registration to another vehicle you own, including vehicle plates, by submitting a completed application for registration to your local Department of Motor Vehicles office. Proof of vehicle ownership, liability insurance, and proof of identity must accompany the application, according to DMV.org.Full Answer >