Eliminates fee for re-issuance of motor vehicle title following loan payoff.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill would eliminate a fee charged by the New Jersey Motor Vehicle Commission when someone pays off a car loan and needs a new motor vehicle title. Currently, a fee is required to re-issue a title after a lien is satisfied. This change would simplify the process for car owners who have paid off their loans and want to transfer ownership of their vehicle. The bill aims to reduce administrative costs and make the title transfer process more convenient for consumers.
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