Grant a Secured Interest
To record a lien on a vehicle, a vehicle purchaser must list the name of the lender, the lender's address and the date of the lien on his or her application for title. A current owner may add a lien by completing the security agreement section on the vehicle's existing title or by surrendering the title with a signed Notification of Assignment – Release or Grant of Secured Interest (PS2017). All owner's must sign.
When a vehicle is transferred from one owner to another, the existing security agreement cannot be carried forward. It has to be released. The new owner may list the same lien holder as the previous owner with the original security agreement date
Release of Security Interest
To remove a lien from a title, the vehicle title must be submitted with the Lien Notification card from the lien holder, properly signed by the lender or with a notarized Notification of Assignment – Release or Grant of Secured Interest (PS2017) signed by the lender. If the title has been lost, a duplicate title must be submitted with the release.