QUESTION
I was issued an auto title with no lien holder listed, does this mean I own the auto?
Asked on Oct 28th, 2014 on Contracts - Colorado
More details to this question:
I moved to Colorado recently and registered my vehicle. The state sent a title to me (I never gave them a title for the car) with no lien holder listed but I still have an outstanding balance on the loan for the car. Does this mean I am the owner of the vehicle and owe nothing?
1 ANSWER
No. It may mean that there is no valid lien against the car, and certainly it should protect any innocent purchaser who may buy the car without knowledge of any debt owed on it, but you still owe the underlying loan.
Answered on Oct 28th, 2014 at 1:55 PM