Bill > H2936

This bill allows the Registrar of Motor Vehicles, the state agency responsible for vehicle registration and titling, to issue a new title for a vehicle if the lien holder, the entity that holds a claim on the vehicle as security for a loan, on the existing title can be proven to no longer exist. This means if a lender has gone out of business or otherwise ceased to exist, and their lien is still recorded on the vehicle's title, the Registrar can issue a new title without that lien. Furthermore, if a lien holder fails to return the original title to the registry so a vehicle can be transferred with the lien still attached, the Registrar can issue a new title that still notes the lien. The Registry of Motor Vehicles will create rules to implement these changes.