Kentucky Release of Lien for Deed of Trust
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How to fill out Release Of Lien For Deed Of Trust?
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FAQ
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.
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. Liens filed on or before 7-14-2016 are only valid for seven (7) years.
Q: What forms do you accept to release a lien? A: The Kentucky County Clerk's Association voted to only accept one of the following forms to release vehicle liens: Original Clerk's Filing Receipt, Title Lien Statement (Form TC96-187), or a UCC-3 Financing Statement Amendment.
The lis pendens notice is filed on the public record for the purpose of warning all persons that the title to certain property is in litigation and that they are in danger of being bound by adverse judgment.
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. This prohibits you from transferring the vehicle until the lien is satisfied.
(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).
Once your car loan is completely paid off, obtain a car title lien release from your lender so your state BMV or DMV can put the car title in your name. The lien removal process varies by state and typically involves completing paperwork and paying a fee for the new car title.
