After a lien has been satisfied, how many days does a lien-holder have to surrender the title to the rightful owner?

After a lien has been satisfied, how many days does a lien-holder have to surrender the title to the rightful owner?

• A. 5 days
• B. 10 days
• C. 15 days
• D. 30 days

Answer: (B)

Once a lien has been satisfied, the lien-holder is required to surrender the title to the rightful owner within a specified timeframe. In Virginia, this period is set at 10 days. This requirement ensures that once the obligation secured by the lien is fulfilled, the owner can receive their title promptly and without unnecessary delays, allowing them to have full ownership of the vehicle without encumbrances. Timely surrender of the title is important for maintaining clear and accurate vehicle ownership records and helps prevent any potential disputes regarding the ownership status of the vehicle. Failing to comply with this requirement can lead to unnecessary complications for both the owner and the lien-holder.

Once a lien has been satisfied, the lien-holder is required to surrender the title to the rightful owner within a specified timeframe. In Virginia, this period is set at 10 days. This requirement ensures that once the obligation secured by the lien is fulfilled, the owner can receive their title promptly and without unnecessary delays, allowing them to have full ownership of the vehicle without encumbrances.

Timely surrender of the title is important for maintaining clear and accurate vehicle ownership records and helps prevent any potential disputes regarding the ownership status of the vehicle. Failing to comply with this requirement can lead to unnecessary complications for both the owner and the lien-holder.