A Kentucky Release of Lien for Car is a legal document that serves as proof that a lien on a vehicle has been released or satisfied. It is essential for car owners in Kentucky to obtain this document when they have paid off their vehicle loan or had a lien removed for any other reason. Keywords: Kentucky, release of lien, car, vehicle, legal document, proof, satisfied, lien removed, loan, ownership. There are different types of Kentucky Release of Lien for Car, depending on the specific circumstances: 1. Standard Kentucky Release of Lien for Car: This is the most common type of lien release form, used when a car loan has been fully paid off. It confirms that the lien holder no longer has any claim or interest in the vehicle, allowing the owner to obtain a clear title. 2. Kentucky Release of Lien for Car due to Repossession: In cases where a vehicle has been repossessed and the owner fulfills the necessary requirements to retrieve it, a release of lien form specific to repossession is required. This document releases the lien holder's claim on the vehicle once it has been returned to the owner. 3. Kentucky Release of Lien for Car due to Fraud or Error: This type of release of lien for car is used when a lien has been fraudulently placed on a vehicle or when an erroneous lien has been filed. The document serves to remove the fraudulent or erroneous lien, providing the owner with a clear title. 4. Kentucky Release of Lien for Car due to Lien holder Satisfaction: Sometimes, a lien holder may voluntarily release the lien on a vehicle, even though the loan has not been fully paid off. This can occur through negotiation or agreement between the lien holder and the vehicle owner. A release of lien form is necessary to document the satisfaction of the lien, ensuring that the owner can proceed with the vehicle's ownership. Overall, a Kentucky Release of Lien for Car is an important document that helps protect the rights and interests of car owners in Kentucky. It allows them to establish clear ownership of their vehicles, ensuring a smooth transfer of titles and avoiding any complications or disputes related to liens.
Kentucky Release of Lien for Car
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How to fill out Kentucky Release Of Lien For Car?
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Releasing a Vehicle Lien To release a lien, the following documents may be mailed, e-mailed or delivered in person: Original Kentucky Title. Completed Release/Termination Statement (TC 96-187) ? we are only able to provide this form to the lien holder.
The lien is effective from the date on which the security interest is noted on the certificate of title for a period of ten (10) years, or in the case of a manufactured home for a period of thirty (30) years or until discharged.
To be considered for a Specific Lien Release the taxpayer must complete and submit the ?Application for Specific Lien Release to the Department of Revenue.
Kentucky is NOT a title holding state. Once your vehicle is registered with us, you will receive a KY title with a lien held by your lender reflected on it.
The circumstances in which the Department of Revenue will consider a Specific Lien Release are as follows: The taxpayer owns other property, subject to the lien, that is worth at least two times the total of the tax owed, plus any additions to the tax owed, and any other debts owed on the property, such as a mortgage.
Online access to Kentucky vehicle owner, title, lien, and registration records is provided through the Kentucky.gov Online Vehicle Information Service (OVIS) in cooperation with the Kentucky Transportation Cabinet and is governed by the Federal Driver's Privacy Protection Act of 2000 (DPPA).
The Title Lien Statement (TC 96-187) is the only recognized form for transmitting the required information needed to establish a lien on the certificate of title.
(KRS 355.9-513 (2)). The termination must be filed in the county where the lien was originally filed. The termination statement must come from the secured party. Effective July 15, 2004 the termination statement must be signed by the secured party (KRS 186.045).
