Q: If a vehicle is seized for a criminal act and the vehicle has a lien holder will the bank return to person with lien?
I have a settlement agreement with the Police Department to pay and get my truck back. I guess I was just hoping the lien holder could get their property back and return to me considering I have made payments on the vehicle and not fallen behind on them while it has been seized. The state can't, to my understanding do anything with the vehicle anyway because there is a lien on the title.
A: If the Lienholder does not make a Claim with a Bond within a very short period, just like you have to, then they do not get the collateral back. The Lienholder was probably notified of the Forfeiture Seizure, and the Notice of Seizure should have both your Name and your Lender. If they do get the vehicle, it will probably not satisfy the Debt, and they will be after you for the Note Deficiency.
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