My question involves vehicle registration or title in the state of VA:
Recently I purchased a vehicle by paying a cash to the seller (I have receipts for cash paid & also general bill of sale-which mentions tht there is no LIEN on car. This is signed by the seller. This car previously was registered with another state). The seller has title with him which he gave it to me (Even though there is lien on this vehicle the seller had title with him with LIEN reported on title. He got title with him as his lender allowed him to keep the original title with him but with LIEN reported on title.).
The seller never told me about his lien on vehicle. After this deal, the seller left the country & went back to india. I put around $1300 for repairing the vehicle & finally took the title to DMV to get the title transfer on my name. During transfer process at DMV, the officer asked me whether there is lien on this vehicle, so I answered tht there is no lien as I was not knowing tht there is lien on this vehicle & seller also hided it from me). Based on my statemet-NO LIEN, DMV officer issued me title on my name with "NO LIEN" on title
paper and also registration for a year's period (I dont know even there is LIEN reported on title why he still issued me title on my name..might be his mistake).
But the other day I got call frm DMV saying tht there is lien on vehicle and u need to provide us LIEN RELEASE LETTER which i will get from the previous owner or lender company. They said we are cancelling your title now & we will reissue title on ur name when u give us lien release letter and we are putting stop on ur record for not allowing u to renew vehicle registration. Now I started contacting tht seller in india who is not responding to my calls. Im also now not sure whether he will keep paying his EMI's to the lender. So now wht options are with me ? - as becoz i need to leave back to india in 3-4
months time and i cant sell vehicle or get rid of it as i dun have valid title with me (I have tht title on my name with NO LEIN mentioned on it but frm DMV perspective its void). From DMV perspective now Im the owner of vehicle & they are asking me to provide them lien release letter. Now the problem is I dun have lein release letter and lender will also not provide me
the same unless tht person pays the loan off. What should I do now? Becoz DMV says u cant get rid of vehicle, sell it unless and until u have title on your name & we will re-issue title only to u when i give them lien release letter.
1) If tht person doesnt pay EMIs, will lender take the car away from me ?
2) What options I have to get out of this situation?
3) If i contact lender, after listening this story will they help me out to resolve it or will just ask me to pay off the remaining loan which im not liable to pay or will they just take away the car from me?
Thnx in advance !