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Vehicle Registration Loan--What the heck is it?
My understanding is that only one lien may exist against a vehicle under CA law, regardless of whether it is a PMSI or a title loan.
Sent from my iPhone - please excuse typos.
> On Dec 21, 2015, at 1:15 AM, Michael Avanesian michael@avanesianlaw.com [cdcbaa] wrote:
>
> I was hoping someone else would have answered this question. My rudimentary understanding is that the only way to perfect a loan against a vehicle is through the DMV. The certificate of ownership has a place where one may write in the name of the lienholder. Now, I do not know how to obtain a second priority lien against a vehicle; it may not be possible. Here is a link to the form: https://www.dmv.ca.gov/portal/wcm/conne ... MODAJPERES
>
> Here is a link to the law: https://www.dmv.ca.gov/portal/dmv/detai ... d3/c3/6301
>
> Here is a link to the commercial code which says to use the DMV: http://l
The post was migrated from Yahoo.
I was hoping someone else would have answered this question. My rudimentary
understanding is that the only way to perfect a loan against a vehicle is
through the DMV. The certificate of ownership has a place where one may
write in the name of the lienholder. Now, I do not know how to obtain a
second priority lien against a vehicle; it may not be possible. Here is a
link to the form:
The post was migrated from Yahoo.