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Electronic Lien TitlesWhat is the difference between an E-title and an Electronic Lien Title?
An E-Title is a title record that is being held in an Electronic status.
An Electronic Lien Title (ELT) is a title record that is being held in an Electronic status with a lien on the vehicle. The only difference between an E-Title and an Electronic Lien Title (ELT) is that there is a lien on the ELT. In both cases, a paper title has NOT been printed.
For example, Jane Doe purchases a vehicle from a dealer. When the title application is processed, an electronic lien holder is chosen. The title is then held as an Electronic Lien Title. Jane then pays the vehicle off and the electronic lien holder releases the lien. The title status is then converted to an E-Title and remains so until Jane Doe requests a paper title to be issued in her name.
Below are three scenarios that may affect lien holders:
My customer is borrowing money from me. The title is an Electronic Title (E-Title) and there are no liens on the vehicle. How do I add my lien now since the customer does not have the title?
You must do the following:
In this scenario, you will not submit a paper title.
If you are an Electronic Lien holder participant, the new title will be held electronically and will be considered an Electronic Lien holder Title. Otherwise, the title will be mailed to you as the lien holder.
You must do the following:
In this scenario, you will not submit a paper title.
If you are an Electronic Lien Holder participant, the new title will be held electronically and will be considered an Electronic Lien Holder Title. Otherwise, the title will be mailed to you as the lien holder.
If you are an Electronic Lien Holder participant, the new title will be held electronically and will be considered an Electronic Lien Holder Title. Otherwise, the title will be mailed to you as the lien holder.
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