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For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some ...
UCC-1 financing statement. A UCC-1 financing statement (an abbreviation for Uniform Commercial Code -1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
Lien waiver. In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.
Texas Fund Trapping Notice. In Mechanics lien law a Texas Fund Trapping Notice is a preliminary notice that parties on construction projects who are not directly contracted with the owner send in order to preserve the right to file a mechanics lien in the event of nonpayment in Texas. This document is called a Fund Trapping Notice because its ...
Mechanic's lien. A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien.
The Texas Department of Motor Vehicles ( TxDMV) is a state agency of Texas, headquartered in Austin. The agency handles vehicle registration and titling, authorizes operating authorities of motor carriers, and gives grants to law enforcement agencies to increase public awareness about automobile theft and to reduce automobile theft. [ 1]