Lienholder release ? HELP

[bighammer]

I am buying a boat in the morning. (WOO HOOO!) I am buying it for what is still owed to the bank. (actually a little less) How do I know the obligation to the bank will be fulfilled and I will have free and clear title? Should the check be made out to owner AND the bank? I'm sure somebody here has experience with this.



Any help would be appreciated.

 

[Brandon]

Bank

I would contact the lien holder, ask for the pay-off and send the check directly to them... ... ... ... They usually have their own instructions for pay-off. I would do it no other way... ... .

Just in case, you know like well thats the right way to do it... ... ... .

danelle

 

[The patriot]

Here in NJ, if there is a lein, the title will be stamped as such.

If the lein has been satisfied, the title will have a stamp on it stating this.



Eric

 

[KMeek]

This is a no brainer. List the bank and seller both as co-payees on the check.