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Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Traffic Law
Satisfied Customers: 118635
Experience:  Attorney with over 24 years of law and traffic law
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How can a lienholder secure a lien on a title when contact

Customer Question

How can a lienholder secure a lien on a title when contact has been lost with the borrower and the title has not been updated yet
Submitted: 2 years ago.
Category: Traffic Law
Expert:  P. Simmons replied 2 years ago.

SOrry...not sure I understand. Is this regarding a title loan (a loan against the title of a vehicle)? And the lender wants to place a lien on the title but they do not have a written contract?

Customer: replied 2 years ago.

we have a signed note and security agreement from the borrower, but he never provided us with the vehicle title for us to place the lien.

Expert:  P. Simmons replied 2 years ago.

Thanks
I am going to opt out and allow another expert to assist you. NO need to reply...that will simply delay the ability of another expert to assist.
Best of luck

Expert:  Law Educator, Esq. replied 2 years ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

I am a DIFFERENT CONTRIBUTOR. Your previous contributor had to leave.

What state are you in?

Customer: replied 2 years ago.

PA

Expert:  Law Educator, Esq. replied 2 years ago.

Thank you for your reply.

Under PA law anyone who is a lienholder must participate in the ELT program and file this form, http://www.dot.state.pa.us/Public/DVSPubsForms/BMV/BMV%20Forms/mv-37.pdf, to get a registration number. They can then place the electronic lien on the vehicle and they must destroy the paper title, if they have it, which is then held to be invalid and an electronic title is issued. If you cannot locate the borrower, because you just need the information on the vehicle, you can file the electronic lien and the paper title will be canceled and you would receive electronic title.

See ELT Program FAQ: http://www.dot.state.pa.us/Public/DVSPubsForms/BMV/BMV%20Forms/mv-37.pdf

Also see: http://www.dot.state.pa.us/public/dvspubsforms/BMV/BMV%20Publications/Lienholders_Guide_ELT_Program.pdf

Customer: replied 2 years ago.

Can this lien be filed without borrower signature on mv38. We have no valid title at this point and have lost contact with the borrower

Expert:  Law Educator, Esq. replied 2 years ago.

Thank you for your reply.

If you have copies of the loan documents and security agreement signed by buyer to attach to the forms, that is supposed to be sufficient.