TOD stands for title on death and is an important aspect of vehicle titling. In essence TOD allows you to say: I own this vehicle and it will go into this person’s name when I die. Once the vehicle’s usual registration processes are dealt with, e.g. VIN, smog, or safety inspection, then all that is required is a copy of the death certificate. With the certificate you can get the vehicle titled in your name. However not all states allow this to be done. The reason for TOD is to keep the vehicle out of probate upon death and a new owner can more easily assume title to the vehicle.
VIN Inspections
The main purpose of a VIN inspection is to check that the vehicle is not reported stolen. There is a national database that contains the VIN numbers of stolen vehicles which allows the status of vehicles to be determined from any state. VIN inspection also helps with preventing titling errors. If the VIN was mistyped then it is important that it matches with the car which drastically helps curb titling problems.
Usually people don’t catch that there is an error until they are trying to put the vehicle title in their name. That is why it is important that before buying a used or even new car to make sure the VIN on the car matches to the title document. Depending on the situation, different documents are required such as affidavits or odometer statements to prove the VIN is correct.
Not all states require VIN inspections. Some states allow gas station auto mechanics to inspect the VIN, others states require the highway patrol. Some states will even allow auto auctions to fulfill the VIN inspection.
Basically if the VIN information is not accurate then the vehicle cannot be titled in the person’s name leading to unnecessary frustration and a DMV hassle.
Posted in VIN.
– January 14, 2010
3 Steps to Getting a Lien Release from a Failed Bank
Acquiring a vehicle title’s lien release from a failed bank is an uncommon matter, but one that needs to be rectified in order to transfer ownership of the vehicle. The current owner shouldn’t sell the vehicle until the lien is released and likewise the new owner and lien holder shouldn’t buy the vehicle with a title that has a lien.
Steps to Follow
- Search the address of the failed lien holder to retrieve the name of the current bank. Contact them and see if they can give you the current lien release.
- Using the name of the bank on the title for the failed lien holder, go to the Secretary of State or Banking Commissioner to inquire what organization bought out the bank in question. If the lien is really old, often times the bank can’t find any record of the loan. In most cases, the successor bank will issue a non-interest letter, but they are not required to do so.
- If the first two steps don’t work, and if it’s an old lien, then there is a set number of years depending on the state that the DMV will no longer require a lien release. The seller can then apply for a duplicate title and a new title will be issued without a lien.
This is a very important matter because the sale could not happen until this issue is resolved.
Posted in Lien Release.
– January 7, 2010
