issues getting lein release on title

[Cal76]

I was having issues getting the title transfered and am sure someone else can give me direction.

I bought a ZX 6R and am trying to get the title transfered to me.  The bike was purchaced by the previous owner new, in 1999, and was paid off about six years ago.  The owner moved here to florida, and quit riding so the title was never switched to only his name.  When I went to get the title transfered, I was told that the title had a lein that must be released by the lender, HRSI.

Since the bike was paid for years ago so, I figured this was just formality, but now I find out that the lendor that did the loans for Kawasaki at the time, HRSI, is out of business. And I am reading all kinds of stories that has gotten me worried. I am told I must find out who purchaced all the loans, but I have no clue who to call. Is there anything that can be done to find out or to get this bike titled without the release.  I can not imagine this is impossible to solve, but I just dont know what direction to go.

[ineedanap]

Household Bank F.S.B. is the successor to HRSI, according to the California DMV.  Their contact number is listed.  Have you tried them yet?

http://www.dmv.ca.gov/about/lob/lob_h.htm

[ineedanap]

Since the bike was paid for years ago so...

How do you know.  You don't have any proof.  

The owner moved here to florida, and quit riding.  

Hopefully he didn't report it stolen in the last state he was living in, pocket the insurance money without paying off the bank, and hiding the bike ever since.  Probably not, but I'm just saying these things happin.


I hope it works out, but if I were in your situation I'd be working on getting my money back and walking away as fast as possible.

[joshr08]

if all he gave you was a title and no letter from the bank stating that the loan was satisfied i dont beleave it was.  I know not what you want to hear but thats how they do title releases now days unless you live in the town that your bank is in.  When you send them your last payment they in turn send you a letter stating that the loan was satisfied and there is no longer a lein on the title.  then you would take that paper and your title to the DMV and bingo bango you have a clear title. good luck

[BaltimoreGS]

Supposing he had a five year loan that bike would have been payed off in 2004 (6 years ago).  Add in an out of state move and I can see paperwork getting lost over the years so don't go off the deep end yet.  I do think it was a bad idea to give him your money before you got the paperwork straightened out though.  In my experience whoevers name is on the title/loan will have to be the one to deal with getting the paperwork from the bank, they don't usually give financial documents to a 3rd party.  Good luck!

-Jessie

[The Buddha]

Banks hold the title when not paid off. You have the title, its been paid for. Soemone forgot to do their due, AKA, the bank, they are supposed to sign and seal where it says "signing here releases the interest in this vehicle".
Cool.
Buddha.

[Jared]

Sometimes they just mail a lien release and the owner is supposed to take that and get a clear title issued (or just keep the lien release til they sell the bike). You'll probably need to get the previous owner to get the release- Just as Jesse said.

Papers getting lost- happens all the time.

Another route to go if you get in an absolute jam is to do an abandoned vehicle title. Look up what Florida needs for that  and make sure they don't just make you Salvage the the thing and take it off the road or something silly.

Good luck.

[BaltimoreGS]

Banks hold the title when not paid off. You have the title, its been paid for. Soemone forgot to do their due, AKA, the bank, they are supposed to sign and seal where it says "signing here releases the interest in this vehicle".
Cool.
Buddha.

I can't speak for other states but Maryland gives you a title when buy any car/motorcycle.  If there is a lien on the vehicle the bank does not hold onto the title.  There is a section on the front of the title that is filled out with the lien holder information.  Once the debt is payed off the bank sends you a paper called a lien release.  As Jared said, you can take that lein release and your title to the DMV and they can issue a new title (with a $50 fee of course) that does not show a lien.  Most people here just keep that lien release paperwork with the original title and give that to the buyer when they sell the car so they don't have to pay the $50 fee.

I ran into a bureaucratic nightmare a few years ago when I bought my XT225 from a local dealership.  I bought the bike outright but something got screwed up in the paperwork and I got a title that showed a lien on the bike.  It ended up being a huge hassle getting that straightened out.  The bank couldn't issue me a lien release because they had no record of a loan in their system on that VIN.  Of course there was no record because there never was a loan.  Quite the Catch 22!

-Jessie

[Chopper_Gone_Sport Biker]

What a giant hassle... I know. I bought a bike that got "salvage" written on the title (from theft, not damage) from the issuing insurance carrier and I could not get it removed because the insurance company had it listed as a "loss", and according to them, thats the END of the story.....

good luck to you, let us know what transpires

PS this is a kick ass forum, I LOVE my GS500F, im an old fart now and wasnt ready for the "condo handling qualities" and size of a goldwing,  but also dont want to have to change diapers every time I ride with a 1000 c.c. crotch rocket, cuz thats what I really wanted, but not comfortable with that kind of power now at 50 yrs old and limited time to ride.....getting something like I got is a sign of wisdom, restraint and being an adult...... So says my wife...heheheee...groweing up kinda sucks, but my lil GS is bringing back some of that mis spent youth of mine !