What does lien release mean?

What is RELEASE OF LIEN? When a person pays off a loan in full, the lien is removed. The asset is no longer pledged to the creditor when the balance is completely paid. When this happens, the creditor acknowledges the release of the lien by signing a Mortgage Release of Lien Certificate.

Read full answer here. Hereof, what do I do with a lien release?

If you don"t receive the lien release, submit a request to the lender for proof that the loan has been satisfied. This request can be made through the DMV or directly to the lender. Visit the DMV and verify that they received the loan satisfaction documents and any liens are removed from the vehicle"s title.

how do I get a copy of a lien release? If your account has been paid in full for more than 90 days, you can also obtain a duplicate title or lien release online at My Title Support or by phone at 866-826-2834, 6 a.m. – 5 p.m. PT. You will need to provide borrower information (name, address, etc.), as well as account number, VIN and titling state.

Likewise, people ask, what does it mean when a lien has been released?

A "release of lien" is a written statement that removes the property from the threat of the lien, usually in the case of a mechanic's lien or a tax lien. 8? It should be signed at payment as proof of payment and as an assurance that the property will not have a judgment placed against it.

Who provides a lien release?

In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.