Lienholder - Recording/Releasing
Recording or Releasing a Lien
RECORDING A LIEN
Alaska law permits the recording of the primary lienholder's name on the title. Secondary lienholders may record their liens in a district recorder's office in their area of residence. This type of filing is called a Uniform Commercial Code or UCC filing.The State of Alaska does not accept applications received through the mail from outside the borders of Alaska. The only exception to this is when the customer has an Alaska title in their name and there is no change of any type to the ownership. The following items are required to record a lien:
- An Application for Title & Registration (Completed in full. Must include the lienholder's name and address.)
- Original title or Manufacturer's Certificate
- $15.00 lien recording fee.$15.00 title
fee ($100.00 for manufactured homes).
- Additional fees and registration
requirements if the vehicle is not currently registered.
- The registered owner of the vehicle must sign the application before it will be accepted. A Power of Attorney is acceptable for someone other than the registered owner signing the application and title.
A title with a recorded lien will automatically be mailed to the lienholder.
RELEASING A LIEN
When you make the final payment on your vehicle, the lienholder will release their interest in the vehicle and give the original title to you. Once you receive the title, you would need to apply for a "clear" title with the Division of Motor Vehicles. In order to obtain a new title, you will need the following items:
- Original title with the lien released or a separate letter from the lienholder releasing their interest. The lien release must have a date, signature and title of the person releasing the lien. A "PAID" stamp is not an acceptable lien release.
- Vehicle Transaction Application (Last title issued was an Alaska title)
- Application for Title & Registration (Last title issued was NOT an Alaska title)
- Fees in the amount of $15.00
If you lose your title, you must obtain a lien release from the financial institution prior to obtaining a clear title.