49-1706. RELEASE OF OWNER’S INTEREST IN VEHICLE. (1) A registered or legal owner of a vehicle in the possession of a person holding a lien under the provisions of this chapter may release any interest in the vehicle after the lien has attached.
(2) The release shall contain the following information:
(a) A description of the vehicle, including the year and make, the engine or vehicle identification number, and the license number;
(b) The names and addresses of the registered and legal owners of record;
(c) A statement of the amount of the lien and the facts concerning the claim which give rise to the lien; and
(d) A statement that the person releasing the interest understands that he has a legal right to a hearing in court prior to the sale of the vehicle and that he waives the right to contest the claim.
(3) A copy of the release shall be filed with the department in connection with the transfer of interest in a vehicle under the provisions of this section.
History:
[49-1706, added 1988, ch. 265, sec. 413, p. 792.]
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