the

Lien Holder - How to Locate a Lien Holder - All In One Vehicle Registration

hi I'm sustained with all one vehicle

registration service also known as car

registration city comm here in the city

of Cairo so and today's lesson we'll

discuss lien holders in our lesson we're

going to cover what is a lien holder and

common situations when you would need to

locate a link over in order to remove

them from the title how to locate a lien

holder and what do you do if you're

unable to locate the lien holder so

let's go ahead and begin what is a lien

holder when you purchase a vehicle the

price of the vehicle may be more than

you have with you in order to purchase

the vehicle you would take out a loan

from a bank of your choice the bank

becomes the lien holder this is also

known as the legal owner so the bank now

owns the vehicle until you're able to

pay off the loan and the bank will now

be identified on the title as the lien

holder and until the loan is paid off

also known as a lien satisfy you will

only be listed as registered owner for

DMV first so what's a common situation

when you need to locate a lien holder in

order to remove them from the title well

let's say you decide to purchase the

vehicle from a private party the person

who sold you the vehicle told you that

he or she lost the title instead of

providing you with the bill of sale so

when you try to register your vehicle

you're told that the vehicle has a lien

holder on this is a common occurrence

especially in my business I see this

every day so you need to register this

vehicle but you can't until the lien is

satisfied meaning that it must be signed

off by the bank so what can you do about

it so that brings us to our next topic

how to locate a lien holder the first

step is to locate the bank that's listed

as lien holder you will need to send the

bank a certified letter along with the

request for them to satisfy the lien to

locate the bank there's a couple ways to

do it you can call us and we will

research the bank's information for you

ok the other step is to try to research

the bank yourself doing a Google search

or any other type of method in which you

can try to locate the bang now once you

send a certified letter to the bank if

the event if the letter is returned to

you uh nope n' chances are the banks

either merged with another bank or the

institution has gone out of business

altogether so as you send your letters

it's important to determine if the bank

has merged with a better bank or if they

in fact have gone out of business

oftentimes a Google search as I

mentioned before will enter this

information for you so you send out your

letters and the letters have come back

and open it's your belief based on your

research that the lienholder has gone

out of business what do you do well if

your efforts to locate the lis in order

have felt you will need to do the

following you're gonna have to document

your efforts using a statement of facts

and this is a form that you can download

from our website a car registration

city.com slash for forums I should say

forward slash forums and you will need

to obtain also a motor-vehicle bond and

keep in mind because we're discussing

lien holders here there's no exception

to it you will have to obtain a motor

vehicle but okay and I'll tell you that

motor vehicle bonds are difficult to

obtain because it's really hard to find

a good company that's local or even a

company that does not every company or

bond security company does do motor

vehicle bonds so that's pretty much it

okay so this concludes your lessons on

lien holders but let me tell you one

keep in mind we at all one vehicle

registration service can locate your

lien holder on your behalf if after

during our research we determine that

the lien holder is out of business we

will obtain a motor vehicle bond for you

and submit the vehicle for registration

call and so if you want to do this you

want us to handle this again and I know

we've outlined these steps here for you

but keep in mind that um these this can

be a little bit time-consuming and if

you're getting into stuff wrong you

could be making possibly multiple trips

over to Department of Motor Vehicles

something that you don't want to do okay

so you can reach us at not a nine eight

one zero two zero zero five we're open

Monday through Friday from 10 a.m. to 7

p.m.

and Saturdays from 10:00 to 4:00 you can

also visit us at our website at car

registration city comm so once again

this is David with all of one theatre

registration service scene thank you and

have a great