Lienholder Requirements

Massachusetts General Laws Chapter 90D Section 24 requires that, upon satisfaction of the loan, the lienholder must release the lien and mail the Title to either the owner of the vehicle, a new lienholder, or any person the owner authorizes to receive the Title, within three business days after request or within ten business days.

 

Massachusetts General Law Chapter 255B Section 1 requires a motor vehicle dealer, who also finances vehicles subject to a retail sale contract, to obtain a license as a sales finance company from the Massachusetts Division of Banks.

 

To be added as a lienholder on the Registry of Motor Vehicles database or if a lienholder already listed needs to change a name or address, the lienholder must fax a letter on letterhead to the Title Division.