I live in NC and would like to know what it means when a finance company releases the lien on your car title?

Question:
I had 2 liens on my title and the primary lien holder released their lien on the car title 1 year before I have it paid off. What does this mean for me?

Answers:

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It means that they no longer have a claim to the vehicle. If you had 2 liens, you must have paid off one of the notes. Once the other one is paid off you'll get clear title to the vehicle.

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As long as there is still one outstanding lien then you do not own the car. I have worked for a dealership where people have by mistake received their titles and legally own the car even though they have not paid for it. Technically this can be a bank error and the person would not have to pay any further as they now have the title of ownership with their name on it.

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You have 2 liens on your car so the primary has sent you on lien because that one is probably satisfied but you are still paying to the second.

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