Electronic Lien?

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So I paid off the loan on my pickup back in October, but never received the title from the bank. So about a month ago I called them about it and they claimed they mailed it to my old address (I moved 3 years ago), Even though they had my new address on the account. The bank said they would have a new title issued and sent to me. As of yesterday, all I got from them is a letter saying they released the lien on it, but no title. So I called again trying to find out where my title is at and they are now claiming that they never had the title and all they had is an electronic lien, and said the letter they sent would act as proof of ownership. Does this sound a little fishy to anybody. I've never heard of this before, and didn't even know what to say.
 
Yep, for a small fee you can have a paper title.

Many states now have electronic title so people don't have to worry about finding paper title when they sell it.
 
Sound fishy to me. The state DMV issues the paper title to lien holder and they must have it.

As of now you should make appointment with local DMV office and take the pay-off letter along with annual registration with you to see what they say.
 
Ohio as an example, has an electronic or non printed title available as an option. Regardless, they still have the title info in their database.
 
This varies by state. Some hold the actual paper title and mail it to you once paid off, others are electronic. If they notified the DMV you should be able to confirm and get a duplicate title that states no lien.
 
In Illinois, you eventually (sometimes after several months of waiting), will get a paper copy of a title.

If you lose it, then you get to pay $95 for a duplicate copy... and wait a few months for the replacement title to be printed and mailed out to you.

So, if you figure out that you've misplaced the title when you're ready to sell a vehicle... you're pretty much hosed.
 
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