Out of Business Title Lien or Security Interest
If the lienholder or security interest holder is out-of-business, the vehicle owner should:
- Conduct a thorough search, including internet search, of all available resources to determine if the security interest holder has merged or otherwise changed their business name or location prior to making a determination that they are out-of-business.
- Obtain and submit a letter from the appropriate regulatory agency that states the lienholder or security interest holder is no longer in business or is unlicensed. If the regulatory agency states that the company is unlicensed:
- Send by registered mail, return receipt a letter to the lienholder or security interest holder, at their last known address as shown on the Department’s title records.
- Submit the returned undelivered letter with the green postal card intact with the following:
- Signed letter from the regulatory agency stating the lien or security holder is unlicensed
- Other applicable documents
- $18.00 title fee
- This procedure does not include:
- Individuals who are lienholder or security interest holders.
- Companies merged with other companies and are operating under a different name.
- Company not regulated by a state agency.