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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
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Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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How to put a lien on vehicle i want to sell and take payment

Resolved Question:

How to put a lien on vehicle i want to sell and take payment in installments. Seller i am In New Jersey State and buyer is in New york state. Please let me know
Submitted: 3 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your question. I am a New Jersey licensed expert.

On what grounds do you wish to place a lien on the vehicle. Are you the lender?
Customer: replied 3 years ago.
I am the currunt owner of the truck and i want to sell it to someone i know who will pay me in installment so just to secure my payments i want to put a lien, I am in New Jersey and the buyer is in NY
Expert:  Dimitry K., Esq. replied 3 years ago.
Oh I see.

It may be easier for you to create an installment plan agreement under which you transfer title to the other person only upon them paying the final payment on the debt. This will avoid the issue of a lien (and the issue of collection, as that may become a headache should the other person attempt to disappear and get out of paying the debts to you), and it will permit you to retain ownership of the vehicle should the other person default on the payments.

Good luck.

Edited by Dimitry Alexander Kaplun on 11/22/2010 at 5:35 PM EST
Customer: replied 3 years ago.

Last time i did that, The vehicle was towed becouse the person didn't pay the parking tickets and endup i paid all the money for towing and tickets as i was owner of the vehicle and got my vehicle released. So definately i need to find a proper way of putting lien on vehicle like dealers does please advice

Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your follow-up.

Dealers generally do not place a lien unless they self-finance.

You must go to the county clerk's office in the county where you reside. The office will provide you will the correct paperwork for a mechanic's lien. After the paperwork is filed, go to the county recorder's office of the county that the individual's property you are placing a lien on is located. Once the paperwork is filed and completed through the county recorder's office, your lien will be in place.

Be aware that you will also have to provide a notice of lien to the individual you are filing the lien against. This must be issued five days prior to the initiation of the lien or within 30 days after the lien is issued. A notice of lien is a printed document notifying an individual of the debt owed and the lien issued. This can be created at home. A notice of lien requires a handwritten signature. Make sure to mail a copy of the notice via certified mail so as to ensure that notice was provided to the buyer.

Good luck.



Edited by Dimitry Alexander Kaplun on 11/22/2010 at 5:47 PM EST
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 37459
Experience: Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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