Selling bikes with a Lien on the title

[Motarded1]

So I havent sold a bike titled in Ohio or one with a Lien on the title, what is the most common way to do it? I have some people from out of state who want to meet halfway etc so I would not be able to take them to my credit union and do it, even then they wouldnt walk away with the title since the state still has it on file I have some e-copy thing.

[yotaman88210]

The easiest way is going have them come here and do the deal at the bank. People dont trust people anymore, so they are most likely gonna have to come here to your bank where the lien is. Unless you have a credit union location closer to them?

[Motarded1]

Yeah its close by like 20min but the one is coming from the UP so 20min doesnt help. What about the not having the actual title, we would have to go to a title bureau or what? Or can they take that e-title or the paper I got from the title agency plus the lein release letter and its all good?

[Cheech]

Ohio is a notary state, so you absolutely have to have a notary witness and sign off on the title transfer. If you explain to your bank branch what's going on they can figure out a solution for you as far as the lien discharge goes.

[Bad324]

Yeah its close by like 20min but the one is coming from the UP so 20min doesnt help. What about the not having the actual title, we would have to go to a title bureau or what? Or can they take that e-title or the paper I got from the title agency plus the lein release letter and its all good?

i assume it works the same way as cars but it is indeed a Ohio e-title?

*If so goto the credit union with you and have them pay off the balance + whatever else they owe you.

*While there, have a bill of sale created, signed and notorized.

*Goto the BMV with buyer and they can print your title in like 5-10mins. Sign over said title and have notorized

*Buyer leaves with bike and you are all set

[cfd37buckeye]

Just sold my camper for payoff. People came to the bank, we sat down, they transferred cash out, handed it to me, I paid my loan off, signed the title over to them.

[Motarded1]

Ohio doesnt give out the titles anymore I just got a piece of paper for registration only (just looked at it). Just seeing how many stops I have to make, bank then the title office. Man mich is so much easier with keeping your title and having the lien signed off!

[ReconRat]

I just bought one on lien. We went to his credit union, I paid it off with a bank transfer check (cashier's check). The credit union transferred and notarized the title to me. Leaving only for me going to the BMV and getting a new title, registration, and plates.

I would not have done it without getting that bank transferred and notarized title.

[redkow97]

I just bought one on lien. We went to his credit union, I paid it off with a bank transfer check (cashier's check). The credit union transferred and notarized the title to me. Leaving only for me going to the BMV and getting a new title, registration, and plates.

I would not have done it without getting that bank transferred and notarized title.

+1

the important point is that the BANK owns the bike, and thus THEY must actually sign over the title to the new owner, not you as the seller.

The buyer is going to have to come to the 'owner' of the bike - you can't take anything to them.

[ReconRat]

+1

the important point is that the BANK owns the bike, and thus THEY must actually sign over the title to the new owner, not you as the seller.

The buyer is going to have to come to the 'owner' of the bike - you can't take anything to them.

Correct, I bought it from the bank. The bank owned it. Anything else would have been wasting time and money. But the owner/operator of the vehicle has to be there to allow it to happen. It was very easy, actually. I did not need nor want a bill of sale. Actually having the legal title was good enough for me. I did have blank copies of bill of sale with me in case I needed to use them.

[ReconRat]

Let's point out that if you are selling a bike that has a lien, you actually want some one to buy the bike from the bank. Otherwise, you are still responsible for the payments, insurance, and liabilities that occur, regardless of promises made.

And remember, that your bank won't take counterfeit money, a third party check, or checks from princes of third world countries. You shouldn't either. Let them pay the bank and you won't have to deal with that either.

[Zach]

I just don't think this is something your bank is going to let happen without the buyer/money on hand. Too many opportunities for fraud or issues to arise.

I bought a bike in PA that had a lien and I was getting a loan for a portion of it. My bank handled the transaction with his bank as far as the title was concerned, but I still had to go to his bank to sign off.