I don't get to see these often, but I was asked what a Release of Lien document is for a automobile. The lender is being sent one from the paid off financial institution. What is this and what do we do with it? Thanks for any help.
In Ohio the lien is registered on the actual auto title. When the loan is paid off the lender signs the section of the title that releases the lien and takes/mails the title to the bureau of motor vehicles and has the lien released. Maybe other states document the lien on a separate instrument. I would call your local bureau of motor vehicles to see what they say. There may be a fee to record the release.