Lien release? Just paid off my car...
06-19-2013 | 12:18 AM
#1
Lien release? Just paid off my car...
I'm in Illinois,
Got a letter from BOA with the title, signed by BOA in the lien release section, my name listed as owner, and BOA listed as previous lienholder....
A letter accompanied it stating I now need to go to the DMV to "clear the title" of BOA -- is this necessary in Illinois?
Are there any charges associated with this in Illinois, thanks in advance.
Got a letter from BOA with the title, signed by BOA in the lien release section, my name listed as owner, and BOA listed as previous lienholder....
A letter accompanied it stating I now need to go to the DMV to "clear the title" of BOA -- is this necessary in Illinois?
Are there any charges associated with this in Illinois, thanks in advance.
06-19-2013 | 12:30 AM
#3
Just say no!!!!!
iTrader: (14)
Joined: Oct 2011
Posts: 6,103
Likes: 590
From: People's Republic of IL
No, you don't need to pay the state another $95 to get a corrected title unless you absolutely want to. So long as the title is stamped lien released and you have the release letter, that's all you need.
Address doesn't matter either.
Address doesn't matter either.
06-19-2013 | 11:19 AM
#4
Thank you!
I was talking to my father in law -- he had a similar situation recently -- he called illinois DMV and they said:
a) if you want to privately sell the car one day -- gotta pay the $95 to clear the title
b) if you TRADE IN the car, don't need to pay $95, I guess the dealer does it
What a rip... as usual
I was talking to my father in law -- he had a similar situation recently -- he called illinois DMV and they said:
a) if you want to privately sell the car one day -- gotta pay the $95 to clear the title
b) if you TRADE IN the car, don't need to pay $95, I guess the dealer does it
What a rip... as usual
06-19-2013 | 11:35 AM
#5
Just say no!!!!!
iTrader: (14)
Joined: Oct 2011
Posts: 6,103
Likes: 590
From: People's Republic of IL
I think the state is just trying to extort more money from you!
The private party still has to file change of title paperwork with the state. So the state is double dipping.
Two years ago, I sold my camaro by private party. The loan was paid off on it in the late '90's ('99 or 2000 iirc). I got the same paperwork you did. I had no clue where the lien release letter was, but the title was stamped properly, and in my possession. With that and the bill of sale, the new owner had no issues getting the title transferred and the car registered under his name.
If you're really concerned about this, call the state 5 more times then tally up the answers you get. I bet it'll be different each time.
=========================
Edit, forget the info from the dimwits at the dmv. Here it is straight from the horse's @ss.
Corrected and Duplicate Titles
There's a section further down pertaining to liens, but only the above situations are those which require a corrected title (at least in IL).
The private party still has to file change of title paperwork with the state. So the state is double dipping.
Two years ago, I sold my camaro by private party. The loan was paid off on it in the late '90's ('99 or 2000 iirc). I got the same paperwork you did. I had no clue where the lien release letter was, but the title was stamped properly, and in my possession. With that and the bill of sale, the new owner had no issues getting the title transferred and the car registered under his name.
If you're really concerned about this, call the state 5 more times then tally up the answers you get. I bet it'll be different each time.
=========================
Edit, forget the info from the dimwits at the dmv. Here it is straight from the horse's @ss.
Corrected and Duplicate Titles
Corrected Titles
When Do I Need a Corrected Title?
There are three instances when you must apply for a corrected title. If your original title is lost, stolen or mutilated, you must apply for a Duplicate Title.
Note: Corrected title applications involving the removal of a name because of divorce or the death of a co-owner or for changing an owner's name because of marriage must be accompanied with a $15 title fee. Other changes may be made at the same time providing divorce, death of a co-owner or marriage is the prevailing reason for the change.
WHEN you are removing an owner's name due to divorce, death, etc. SUBMIT the Application for Vehicle Transaction(s) (VSD 190) with the Illinois Certificate of Title signed by the person releasing their interest in the vehicle. Additionally, in order to qualify for the reduced special title fee of $15, a copy of relevant pages of the divorce decree must be submitted. Divorce decree pages must include the name of the court, identify the vehicle and signature of the judge.In the case of a deceased owner, a certified copy of the death certificate must be submitted. If the estate is being probated, a certified copy of the letters of office, administration, testimony or court order must be submitted. More about transferring the title in case of a deceased owner.
WHEN you are adding or changing an owner's name due to Marriage. SUBMIT the Application for Vehicle Transaction(s) (VSD 190) with the Illinois Certificate of Title. In order to qualify for the reduced special title fee of $15, a copy of the marriage license or other legal documentation authorizing a name change due to marriage must be submitted as proof of the name change. A $3 fee will be assessed in addition to the title fee to correct the registration card.
WHEN you are adding a lien, SUBMIT the Application for Vehicle Transaction(s) (VSD 190). Indicate the full name and address of the lienholder.
When Do I Need a Corrected Title?
There are three instances when you must apply for a corrected title. If your original title is lost, stolen or mutilated, you must apply for a Duplicate Title.
Note: Corrected title applications involving the removal of a name because of divorce or the death of a co-owner or for changing an owner's name because of marriage must be accompanied with a $15 title fee. Other changes may be made at the same time providing divorce, death of a co-owner or marriage is the prevailing reason for the change.
WHEN you are removing an owner's name due to divorce, death, etc. SUBMIT the Application for Vehicle Transaction(s) (VSD 190) with the Illinois Certificate of Title signed by the person releasing their interest in the vehicle. Additionally, in order to qualify for the reduced special title fee of $15, a copy of relevant pages of the divorce decree must be submitted. Divorce decree pages must include the name of the court, identify the vehicle and signature of the judge.In the case of a deceased owner, a certified copy of the death certificate must be submitted. If the estate is being probated, a certified copy of the letters of office, administration, testimony or court order must be submitted. More about transferring the title in case of a deceased owner.
WHEN you are adding or changing an owner's name due to Marriage. SUBMIT the Application for Vehicle Transaction(s) (VSD 190) with the Illinois Certificate of Title. In order to qualify for the reduced special title fee of $15, a copy of the marriage license or other legal documentation authorizing a name change due to marriage must be submitted as proof of the name change. A $3 fee will be assessed in addition to the title fee to correct the registration card.
WHEN you are adding a lien, SUBMIT the Application for Vehicle Transaction(s) (VSD 190). Indicate the full name and address of the lienholder.
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