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I have a question about title's. From NY to NJ.
Hey.
I recently bought a f4i from a guy in NY. I live in NJ. When I bought the bike there was a lien on it. He took the money to the bank the next day and got a letter from them saying the lien should be removed and what not. He gave me the title and lien letter. Now When I go to title it in my name. Will I have any issues? This is confusing. This is what I found according to NYS DMV Can I transfer a title certificate that has a lien listed? You can transfer the title certificate and give the new owner the original proof that any lien listed on the title certificate was satisfied. Keep a copy of the proof for your records. When the new owner applies for a registration and title certificate, DMV receives the title certificate and the proof that the lien is satisfied. When the DMV processes the title certificate of the new owner, the lien is removed. If the new owner does not provide the original proof that the lien is satisfied, the lienholder is listed on the title certificate of the new owner. Required notification of a satisfied lien You need to get a notarized statement on letterhead, dated and signed by an authorized officer of the lending institution, stating that the lien was paid in full and include your name, vehicle make, year and full VIN. Mail the statement to: Motor Vehicle Commission Title Records Unit PO Box 155 225 East State Street Trenton, NJ 08666-0155 The lien holder must date, sign and stamp the face of the title with the endorsement "lien satisfied." |
If its a legit certified letter you should be fine...make sure the new title in your name does not state that there is a lien on it
Next time dont buy a bike with a lien on it. Have him pay it off before purchasing. If he needs your money to pay it, go to the bank with him |
I added NJ DMV info.
I bought the bike. He had the original title in hand. He handed that over to me with a bill of sale. The next day he went to the bank and the bank gave him a letter. On an official letter head from the bank that the bank had signed with all the info. (they didn't notarize it though, but NY doesn't have a rule where it needs to be notarized but NJ does.) New York and New Jersey's laws are almost completely opposite. |
When he handed over the title did you look at the front where it stated there was a lien on it? Hypothetically, he could have disappeared and your stuck paying his lien or better yet, the bank takes the bike bc legally it is THEIR bike. But back to your question, call your DMV, every state is different. I call my DMV twice a week just with questions! They know me by first name
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Originally Posted by 600F4inoober
(Post 920045)
When he handed over the title did you look at the front where it stated there was a lien on it? Hypothetically, he could have disappeared and your stuck paying his lien or better yet, the bank takes the bike bc legally it is THEIR bike. But back to your question, call your DMV, every state is different. I call my DMV twice a week just with questions! They know me by first name
The title stats there was a lien on it. I have all the papers in my possession title signed over to me Lien removal from his bank Bill of sale stating date, price, and that he would send the lien removal asap. Edit: I have called and couldn't get a straight answer about it. |
Unusual. Usually when there is a lien on a title, the lien holder retains the title. Not the person. When the lien is satisfied, the title is sent to the now owner. It'll still show the lien but the title is endorsed by the lien holder stating the lien has been satisfied.
But that's kinda irrelevant. Contact the lien holder. If they state the lien has been satisfied then follow your DMV policy. You go by the rules & regs in the state the title will be registered, not where the title originated. What'll happen is NJ will destroy the NY title and issue a corrected NJ one, once they're sure everything is above board. They're just makin you do the legwork for them ;) |
Follow your state's regulations first. After that, it wouldn't be a bad idea to follow the other state's (keep the copy of the lien letter).
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But what is nj's rule. I cant find it
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bump anyone else know anything?
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Certain states suck when it comes to Titles. NC is a title holding state, so the lein compyan will hold the title untill it is satisfied. WI is a different story. They will send you the title that says there is a lein on it. Once that lein is satisifed, they will send you the new title stating that there is not a lein on it. I didnt have any trouble with puchasing my bike in NJ because I bought the bike outright from a dealer. I had issues when the dealer with the title. First they sent it to the wrong address, messed up a bunch of other stuff, but when it was all said and done, I finally got my title. Here soon, I'll be dealing with PA, NJ, and NC DMVs. I bought a car in PA. They couldnt register it in PA because I dont live there. They had to register it in NJ. I'm going to transfer it over to NC once i get everything done. Long process, but it should work out for the best. In order to get the bike/vehicle titled in any state, you need to satisfy the requirements of the state. Take the title into the DMV, try to get a new title. When they turn you down, as what you need to do to make it correct. There is nothing better than satisfying the person behind the counter, who knows, they may even let you slide just a hair.
Good luck |
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