Oregon DMV Form 735-0524. Lien Satisfaction, Statement of (Release of Security Interest)

Form 735-0524 - Lien Satisfaction, Statement of (Release of Security Interest) is used to request the removal of a lienholder from the vehicle's title once a loan or lien has been paid off.

When a vehicle owner has paid off their loan or debt secured by the vehicle, this form is used to request the removal of the lienholder from the title, establishing clear ownership.

Example Scenario: An Oregon vehicle owner has paid off their car loan, and the lienholder (e.g., a bank) needs to be removed from the title. The owner uses this form to initiate the process.

Parties Involved: This form is typically used by vehicle owners who have paid off their loans or debts secured by the vehicle, and lienholders involved in releasing their interest. It includes information about the lienholder, the vehicle, and the owner.

Related Forms: Similar to lien satisfaction forms but specific to vehicles. There may be alternative forms and formats for lien satisfaction.