A Certificate of Title is a document that is used to document the current owner of an asset or property. Some of the information
that is contained on a Certificate of Title is the address of the property owner, condition and location of the property. All of the
information on the Certificate of Title document helps with creating a smooth flow of ownership when selling the described property.
Another key section of the Certificate of Title lists if there are any claims or liens on the listed property. For example, mortgages and
or loans that may have been taken out and used the listed property as collateral to secure the loan. The entity that is holding the
lien also known as the lienholder will be listed making it easy to check on the status of the obligation or loan.
What Constitutes A Change of Ownership?
- Full payment of a Car Loan or Satisfaction of a Lien
- The sale of or gift
- The addition or deletion of an owner