What Does A Lien Sale On A Car Mean??

A lien sale is the sale of the claim or “hold” placed on an asset to satisfy an unpaid debt.

Typically, lien sales are conducted as public auctions and the lien is on real estate, automobiles and other personal property.

How does a lien sale work car?

To conduct a lien sale, the person/lienholder must have possession of the vehicle. NOTE: A salvage pool cannot conduct a lien sale to obtain title to a vehicle. The lien arises (becomes effective) at the time the registered owner is presented with a written statement of charges for completed work or services.

How long does a lien sale take?

How Long does it take to complete a lien sale? Vehicles “under” $4000 and boat under $1500, approximately 35 days. Vehicles “over” $4000 and boat over $1500, usually 90 to 120 days.

How do you get a lien removed from a car title?

To remove a lien, you must send the DMV:

  • form Application for Duplicate Title (MV-902), checked to show that a lien release is included with the application, and.
  • the $20 fee for a duplicate title certificate, and.
  • the original title certificate that shows the lien, and.

Photo in the article by “Where Can I FLY” https://www.wcifly.com/fr/blog-travelinsider-san-francisco-public-transportation