What Does It Mean to Release a Car from Mortgage?

[LeJune]

Releasing a car from mortgage refers to the process of canceling the mortgage registration for a vehicle purchased with a mortgage loan, which means the mortgage right is terminated at the vehicle management office. Below are the procedures and required documents for releasing a car from mortgage: Procedures for releasing a car from mortgage: First, you need to apply to the vehicle management office where the mortgage was registered. Second, submit the required documents to complete the mortgage release registration. Finally, after the vehicle management office reviews and approves the application in accordance with regulations, they will archive the relevant documents, input the information, endorse, and issue the vehicle registration certificate, completing the mortgage release process. Required documents for releasing a car from mortgage: Identity proofs of the vehicle owner and the mortgagee. If the process is handled by an agent, the agent's identity proof is also required. If the agent is an organization, the original identity proof of the handling personnel and a written authorization from the vehicle owner must be submitted. The vehicle registration certificate. If the mortgage is released through a court mediation, ruling, or judgment, the effective "Mediation Agreement," "Ruling," or "Judgment" issued by the court, along with the corresponding "Notice of Assistance in Execution," must be submitted. If the mortgagee is an organization that has been deregistered, proof of the organization's deregistration must also be submitted, which can include a query certificate issued by the industrial and commercial department and proof of the mortgagor's repayment.