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If you are talking about your insurance company then the answer is yes, you have to release it to them unless you bought the salvage rights from them. If you think the car will be necessary to pursue a case of some kind or you just want the car to "part out" or try and rebuild then you can ask them how much it will cost to buy it from them. They usually have a pretty reasonable price on the salvage value.
You are supposed to sign the title. They usually won't pay for anything if you don't sign the title. If you refuse they can try to reverse the payment to the loan company or they can sue you and have the court order you to sign it.
If you dispute that you accepted that amount or that you agreed to give them the car, etc. then they would have to sue you to get what they want.
I will be going offline shortly. If you have follow up questions feel free to ask them in this thread and I will continue the first thing in the morning.
If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work.
Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered. In addition, once you issue your Positive Rating the question will lock open and no longer time out so you can come back to it anytime in the future if you think of any follow ups.