Oklahoma Administrative Code
Title 260 - Office of Management and Enterprise Services
Chapter 135 - Service Oklahoma
Subchapter 7 - Motor Vehicle
Part 41 - LIENS
Section 260:135-7-232 - Releasing Lien
Universal Citation: OK Admin Code 260:135-7-232
Current through Vol. 42, No. 1, September 16, 2024
(a) Perfected liens may ordinarily be released by submission of one (1) of the following to Service Oklahoma or a licensed operator:
(1) Copy #4
(if unavailable, a certified duplicate copy of Copy #3 or #4, or
an original or certified copy of Copy #1 is
acceptable) of the six (6) part lien entry Form 21, with the release signed and
dated.
(2) Any of the lien release
receipts, original or certified copy, generated when the lien was perfected by
Service Oklahoma or a licensed operator, signed and dated.
(3) Should a standard lien release as
outlined above be unavailable, the lien may be released by submission of a
typed, notarized release statement from the secured party. The statement must
include the notarized signature of a representative of the secured party, the
name of the secured party, name of the debtor, and vehicle identification
number/serial number of the vehicle.
(b) If the lender is out of business and no longer available, their lien may be released by the following procedure:
(1) A certified letter, restricted delivery,
requesting a lien release and listing the year, make, and vehicle
identification number is to be sent to the lender's address listed on the
Service Oklahoma file.
(2) The
administering agency of the lienholder (i.e., Oklahoma Used Motor Vehicle and
Parts Commission if an Oklahoma used dealer; State Banking Department if a
bank, savings and loan or credit union; Department of Consumer Credit if a
finance company) is to be contacted and written confirmation requested that the
lienholder is no longer in business at the address requested. If an
out-of-state lienholder, that state's equivalent agency is to be contacted. If
the response from the administering agency is that the lender was taken over by
another business entity, that entity will have to be contacted for a
release.
(3) The returned certified
letter and post office receipts, the written confirmation from the
administering agency, the Oklahoma certificate of title and applicable titling
fee is to be submitted to Service Oklahoma for review. If approved, a
confirming affidavit will be returned to the vehicle owner for his/her review
and signature. Upon return of that affidavit to Service Oklahoma, a new
Oklahoma certificate of title, without the lien reflected, will be
issued.
Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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