Title question for NJ owners with car loan

[yobigd20]

Who technically should be in 'possession' of the car title in NJ that shows title info (obviously) and lienholder info? If I recall it varies state by state. I sort of remember in one state *you* have the title document, but in another state (I've lived in MD), that the 'lienholder' actually is in possession of the title certificate until it's paid off.

That being said, I know Tesla mailed me the title. Should I be in possession of this, or the lienholder? If the lienholder, do I have to mail this to them or do they have a copy of it too?

The reason I ask is because I just paid off my wife's Ford Flex that we got last year and I'm looking around for the title document and I dont think I have it. I think it gets mailed to me by the lienholder when they sign off on it. right? So should I have this title for the Tesla or should the lienholder have it? Confused!

 

[SouthJerseyJon]

the 'lienholder' actually is in possession of the title certificate until it's paid off.

NJ is the same and the lienholder's name will appear in the lower right hand corner of the title. When the lien is placed on the title, Motor Vehicles DOES NOT give the title to Tesla or the owner of the vehicle. It is mailed directly to the lienholder when there is a lien.

I financed through PenFed and Tesla didn't provide the NJMVC with the info and I actually just went in and had them added as a lienholder. Penfed was going to raise my interest rate since they didn't receive the proof of the lien. I thought it was smarter to pay another $85 directly to NJMVC instead of sending it back to Tesla and hoping they would do it right this time.


Any more questions, PM me.