Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
  • The latest TMC Podcast (#17) is now available on YouTube and all major podcast networks. We covered EV Tax Credit 2.0, Model Y & 3 Gangbuster Sales, Low Model X Demand, and California FSD Drama.

Legal owner as Credit Union on Loan?

FPCU sent loan documents to sign where registered owner is me but the legal owner is FPCU. however, nowhere through the doc (that i can find) does it say they're going to remove themselves as legal owner once loan balance is satisfied. has anyone dealt with this? i cant imagine this not being a standard loan document and i'm just not used to reading all this legal info. help!


Supporting Member
Feb 28, 2018
Portland, OR
Dunno about your state, but at least in Oregon, the lender holds the title (and is listed as a lienholder) until the loan is paid off, at which point they send you the title with the lienholder release signed off. You're still technically supposed to get the car re-titled anyway once that happens, so changing the owner wouldn't be a big deal over what's happening anyway.

Could be a legal requirement in your state or a weird policy your lender has, but regardless, I doubt they want anything to do with your car after it's paid off. Might be worth an ask to your loan officer, but I'm sure it's nothing sinister.

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.