DMV form REG 166 Lien Satisfied/Legal Owner/Title Holder Release

DMV form REG 166, also known as Lien Satisfied/Legal Owner/Title Holder Release, is used by individuals or entities who have satisfied their lien on a motor vehicle or have sold the vehicle to a new owner. The form is specific to the California Department of Motor Vehicles and can be downloaded from their website.

The purpose of the form is to inform the DMV that the lienholder has released their interest in the vehicle and that the legal owner or title holder should be updated accordingly. This is important because failing to update the legal owner information could cause problems for the new owner, including difficulty registering the vehicle, obtaining insurance or selling it in the future.

The form consists of several parts, including fields for the seller’s name and address, the vehicle identification number (VIN), the date of the release of the lien, and the buyer’s name and address (if applicable). It also includes a section for the signature of the lienholder releasing their interest in the vehicle.

To compile the form, the seller will need to provide their name and address, the VIN of the vehicle, and the date when the lien was satisfied or released. The seller will also need to attach a copy of the lien release form from the lienholder, indicating that their interest has been satisfied. Once the form is completed, it can be submitted to the DMV.

The benefits of submitting this form include ensuring that the legal owner information is up to date and that the new owner will not have any problems registering or insuring the vehicle. The challenges and risks of not submitting the form include difficulties for the new owner and potential liability issues for the seller.

There are no direct alternative forms to REG 166, but similar forms may exist in other states or jurisdictions. Differences may include the requirements for additional documents, or the specific information required on the form.

Once submitted, the REG 166 is stored in the DMV’s records and is available for review as needed. In the future, the form may be required as proof that the lien on the vehicle has been satisfied, or that the ownership of the vehicle has been transferred to a new owner.