Legal Question in Business Law in Indiana

car title

I paid off my car in 2002 I was sent a title by the loan company who bought my loan from the first loan company....I lost the title and went to apply for a duplicate only to discover that the 1st lien holder still has a lien on the title and that company is now out of business....the bmv will not give me a duplicate until the lien is removed...since the company that holds the lien is out of business what can I do to get the title


Asked on 1/29/07, 4:27 pm

1 Answer from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: car title

Try contacting the successor company and ask them to issue a release of lien showing their successor status, or in the alternative, see if you can obtain from the Sec. of State a Certificate of Dissolution. Show this to the BMV, or ask to speak to the Supervisor at the BMV and ask that person what to do.

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Answered on 1/29/07, 5:58 pm


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