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Is Selling a automobile by having a Lien prohibited?

It is perhaps perhaps dollar loan center anaheim ca not unlawful to offer a car having a lien upon it , provided that the purchase allows you to spend the loan off and transfer the name towards the brand new owner. Keep in mind, in the event that you nevertheless owe on a car, the financial institution owns the motor automobile and, in many states, holds the title.

Many states allow it to be illegal to offer a car with no name. In the event that you’ve lost the name, getting an upgraded is really a process that is relatively simple. However, if you don’t have title since you didn’t spend your loan off, you’ve simply offered a stolen car – which will be definitely unlawful. Read more »