As the owner of the vehicle or watercraft described on. Mail or Release Title To: the accompanying title application, I direct the Michigan.Find out when, where, and how you can remove a lienholder from your car title after you've paid off your loan. The FDIC may be able to assist you in obtaining a lien release if the request is for a customer of a failed bank that was placed into FDIC receivership. The lender will also notify the Department of Motor Vehicles (DMV) that the loan has been paid in full. In some states, getting your title is an automatic process after you pay off your loan. Once you've made the final payment on your loan, you can get the title from your lender and become the full owner of your car. The Electronic Lien and Title (ELT) program permits financial institutions to issue an electronic version of a vehicle title and lienholder information. How to locate a lienholder. Your vehicle title lienholder is the lender of your auto loan.