The Alabama Release of Lien for Vehicle is a legal document that serves as proof of ownership transfer for a motor vehicle in the state of Alabama. When all financial obligations related to a vehicle, such as loans or debts, have been paid off, the lien holder (usually a financial institution or an individual) releases their claim on the vehicle by completing this form. The Alabama Release of Lien for Vehicle form typically includes essential information such as: 1. Vehicle Details: The make, model, year, identification number, and license plate number of the vehicle being released from the lien. 2. Lien holder Information: The name and address of the lien holder (individual or institution) who held the lien on the vehicle. 3. Release of Lien Details: This section specifies the date when the lien is released and acknowledges that the lien holder has no further claim or interest in the vehicle. 4. Signature and Notarization: The form requires the signature of the lien holder, signifying their consent and agreement to release the lien. It may also require notarization to authenticate the document. There are different types of Alabama Release of Lien for Vehicle depending on the purpose or situation: 1. Individual Vehicle Release of Lien: This type of release is used when an individual who placed a lien on a vehicle decides to release their claim on the vehicle once the financial obligations have been fulfilled. 2. Financial Institution Release of Lien: Financial institutions like banks or credit unions often hold liens on vehicles as collateral until the borrower repays the loan. This type of release of lien is used when the financial institution agrees to release their claim on the vehicle. 3. Title Transfer with Release of Lien: In some cases, when a vehicle is being sold or transferred to a new owner, the seller uses the Alabama Release of Lien for Vehicle form to transfer the title to the new owner and attest that the vehicle is free from any liens. It is crucial to accurately complete and submit the Alabama Release of Lien for Vehicle to the appropriate Alabama Department of Revenue office, as this document plays a vital role in establishing the new owner's legal ownership rights and removing any encumbrances on the vehicle.
Alabama Release of Lien for Vehicle
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How to fill out Alabama Release Of Lien For Vehicle?
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If you still have a loan on the vehicle, you will need to pay off the balance to sell it. If you can't pay the loan, you will need to submit a lien release form to the Motor Vehicle Division at the Department of Revenue in Alabama.
Both parties must fill out the transfer of ownership on the title and fill out the Application for Replacement Title. Bring the Application and the original title to the County Office where the new owner resides along with: Proof of Alabama auto insurance. Driver's license of the new owner.
The titled owner(s) or recorded lienholder can apply for a replacement title online by using the Public Title Portal. Once the title application is complete, it can be electronically uploaded and submitted for payment. The application fee is $15.00 and is non-refundable.
In order to register a vehicle subject to the Alabama title law, a title application must be completed before a registration can be processed. When a certificate of title is not required, only a registration is issued.
Take the following steps to get your Alabama vehicle lien released: Complete a lien release online. Gather your current vehicle title. ... Submit the above to the Motor Vehicle Division by mail at the address listed on the lien release application, or in person at your local office.
The Alabama Release of Lien Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. Alabama law requires that a lien cancellation is filed within 30 days after the lien is satisfied.
A vehicle's ownership can be transferred without a title, but of course, the process is less of a hassle if you have the title. To transfer ownership of a car without a title in Alabama, you need to apply for a duplicate title by completing a Duplicate Title Request Form ( Form MVT 12-1).
If there are any liens shown on the front of the title that are not released, you will need to have it signed off by the lienholder (Or obtain an original release document from the lien holder). On the back of the title you will fill out the upper part under the heading ASSIGNMENT OF TITLE BY REGISTERED OWNER.
