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When a vehicle is financed, the certificate of title is normally held by the lender, who must release it to the purchaser once the balance is paid off. In some states, such as New York and Maryland, the transferred title is sent directly to that individual, but the name of the lender or lienholder appears on the title as well.
ELT offers a potential staff reduction in areas associated with filing, retrieval and mailing of certificates and a reduction of storage space needed for filing and storing paper certificates of title. There is increased ease of processing for dealer transactions. It may offer a reduction in title-related fraud. [1]
The certificate is known as a "pink slip" after the color of the piece of paper that was issued to owners, until a 1988 change in the document. [10] The original "pink slip" (or a replacement issued by the DMV, if the original is lost) is needed to transfer ownership of the vehicle, like during a sale. [ 10 ]
DMV headquarters in Carson City. The Nevada Department of Motor Vehicles (DMV) is a Nevada state agency responsible for issuing driver licenses and vehicle registration.The DMV operates a total of 20 offices across the state, with five in Las Vegas, two in Reno, and one each in Henderson, Sparks, Carson City, Elko, Ely, Fallon, Hawthorne, Laughlin, Mesquite, Pahrump, Tonopah, Winnemucca, and ...
American state-issued registration certificate from 1917. A vehicle registration certificate is an official document providing proof of registration of a vehicle. It is used primarily by governments as a means of ensuring that all road vehicles are on the national vehicle register, but is also used as a form of law enforcement and to facilitate change of ownership when buying and selling a ...
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In Nevada, all motor vehicles, with the exception of motorcycles and trailers, are issued two license plates. According to state law, most standard passenger vehicles issued two plates are required to display them on both the front and rear bumpers of the vehicle.
Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...