Sort of off topic but can be related and is good info for anyone to know.

In Maryland when we have a vehicle that is being sold and there is a Lien on that vehicle and then paid off, that bank or whomever presents you with a Idenical looking title but has a different outline border color... "Lein Release". Once both are presented to MVA then you can title and register the vehicle.


My question is, In the state of Illinois is that the same practice or is a stamp and signature of the Lein being piad for all that is needed. I would like to know before I purchase a vehicle from that state, and only offered "one" title with just a stamp and signature claiming the Lien is paid in full.

TIA....

 

I payz cash money for my cars. I'm a baller.

Just kidding.

I had no title before I paid off the Hype R. I got a title from the State of IL (and/or American Honda Finance Corp) after paying it off. I think the one title is all you need.

Have a picture of it?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Chris F &raquo;</TD></TR><TR><TD CLASS="quote">I payz cash money for my cars. I'm a baller.

Just kidding.

I had no title before I paid off the Hype R. I got a title from the State of IL (and/or American Honda Finance Corp) after paying it off. I think the one title is all you need.

Have a picture of it?</TD></TR></TABLE>

don't lie bish you really R a balla

 

when you pay off the lien/loan the bank should send you the title of the car and the pink slip that with be signed back over to you to take to the dmv and re register it as you being the own of the car and title.

thats how my bank and ca does it

 

You might find these helpful, courtesy of the Illinois Secretary of State (that's what our DMV is called):

How to Apply for Title and Registration

Download Title and Registration - Tips for Properly Completing Your Applications

Vehicle Title & License Plates for New Illinois Residents

 

I was told two things. The owner who is selling said that the one title with a small stamp and signature and date of when the Lein was paid was all that is needed. That would make CHris correct, IL does not even give you a title unitl it is paid off.

I was also told that you would at least need something official from the bank confirming it was paid, a small mailing stamp and signature on the title anyone could duplicate. Thanks for the info.

 

That is 100% true. I work for in the license and title department of one of the largest leasing companies in IL and deal with lien releases very often.

The lien on the title must be signed off by an "officer" of the bank which owns the lien. Once that is done you can then take the title into the DMV or a local currecy exchange and they will send the title out to the State of IL to have the lien taken off the title. You should receive a new title (ETA now is between 3-6 months) with the lien removed.

Let me know if you have any other questions at all about the process and I can lead you through it. PM or the thread is fine.

Thanks,

Tom

 

Thanks for all the info!!

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Got-VTEC &raquo;</TD></TR><TR><TD CLASS="quote">That is 100% true. I work for in the license and title department of one of the largest leasing companies in IL and deal with lien releases very often.

The lien on the title must be signed off by an "officer" of the bank which owns the lien. Once that is done you can then take the title into the DMV or a local currecy exchange and they will send the title out to the State of IL to have the lien taken off the title. You should receive a new title (ETA now is between 3-6 months) with the lien removed.

Let me know if you have any other questions at all about the process and I can lead you through it. PM or the thread is fine.

Thanks,

Tom</TD></TR></TABLE>

unless the lien is paid off via sale, at which point they send the title to the seller("original" owner who is selling the car) who must then give it to the buyer.. on there, it will be stamped or signed off as the lien being released. the buyer can then take that and register the vehicle..

basically, yes, tom and Got-VTEC are right.. just wanted to add that tidbit..