Background and Context........................................................................................................... 3. B. Purpose of this Guidance .......................................................................................................... 4. C. Target Audience, Status and Content of the Guidance ............................................................ 5. D. Scope of the Guidance: terminology, Key features and business models................................
A lien holder is someone who has either leased a vehicle to you with an insurable interest, or given you money on loan to buy it. The lien holder is usually a bank or another financial firm. When insuring your car, the lien holder is also included on your policy. This will protect the lien holder in the event that you are in an accident and damage the vehicle. The lien holder has a secured interest in the car.
Dear JoAnn, A lien holder stays on a car title for as long as there is a lien on the car. A person (or company) listed on a car title as a lien holder means that this person â in this case your ex-husband â is owed money on the car. The lien holder is expected to release the lien as soon as the loan is paid in full.