What procedures are required to release a mortgaged vehicle?

[McFrank]

Releasing a mortgaged vehicle requires the following procedures: Vehicle Registration Certificate: Commonly known as the 'green book,' it is usually taken by the mortgagee after the mortgage is established and returned to the owner once the loan is fully repaid. This document is essential for the release. Copies: The copies of the business license and the documents used when the owner initially processed the mortgage should be identical, primarily verifying the accuracy of the organization code certificate and business license number. Loan Clearance Certificate: This is not a mandatory document, but many banks will issue a certificate to prove that the owner has fully repaid the loan. Power of Attorney with Company Seal from the Financial Company: Financial companies or banks will certainly authorize an employee to assist the owner in the release process. However, in some cases, the owner may delegate a friend to act as a guarantor.