Releasing a Security Interest Holder from a Vehicle

You can release a security interest holder from a vehicle as necessary. For example, you would release a security interest holder if the owner paid off the loan used to finance the purchase.

You can also complete the following supplemental procedure when you release a security interest holder from a vehicle:

• Adding a Supporting Document.
• Scanning Documents and Creating Online Images.

  Note: You can use this procedure when a lien is removed from a vehicle but no other transaction has taken place. Using other procedures, you can also release security interests as part of another transaction, like a title and registration. Finally, if needed, you can add and release security interest holders in a single transaction to save time.

To release a security interest holder from a vehicle

1. On the VRT menu, select Title Transactions > Add/Release SI.

   The Add/Release SI Prequalifier window appears.

2. Locate the vehicle by entering the vehicle identification number or the identification number of the customer who is associated with this vehicle, specifying the type of ID corresponding to that number, and clicking Continue.

   Tip: If you do not know the vehicle or customer identification number, click Vehicle Search or Customer Search to open the Search window and find the vehicle or customer you want.

   When the vehicle or customer that you entered is identified, the Add/Release SI window appears.

3. On the Application tab, under SI Information, in the line of the security interest holder that you want to release, enter a release date and a release reason.

   Note: If you also need to add a security interest holder to this vehicle, you can do so by clicking Add. For more information, see Adding a Security Interest to a Vehicle.

4. Click Commit.

   The Finalize Transactions window appears.

5. Click Close.

   The security interest holder is released and the window closes. A new title is produced, but it remains electronic until all security interests in the vehicle have been released. Titles that have no security interest holders associated will print.