Letter of abandonment - Posted by Ricked

import · January 26, 2004, 5:25pm

Posted by Gary on January 28, 2004 at 15:49:23:

Thanks Dan- I finally found something I can use.

import · January 26, 2004, 5:25pm

Posted by Ricked on January 26, 2004 at 18:25:11:

Had a finance CO. call me today about one of there Repos in my Park. Told me to go to title office and get a letter of abandenment and it would be mine. does this mean what I think it means, will it be mine ? anyone ever heard of this, or had it happen.

Thanks,
Rick

import · January 26, 2004, 9:35pm

Re: Letter of abandonment - Posted by Dan - GA

Posted by Dan - GA on January 26, 2004 at 22:35:43:

Ricked:
It means what you think it means. They don’t want it back, they aren’t going to pay any lot rent, and if you don’t do something, in 1 year you will have the same situation as you do now.

There may be some hoops for you to jump through, including advertising that it was abandoned for 1 or more weeks in the local paper’s legal section. Your DMV will have the procedure to do that. The bank will have to sign some paperwork showing that the lein has been satisfied, then you will get a replacement title. Now you can sell or rent it as you please.

Dan