Motorcycle Paid Off 10+ Years Ago But I Lost Lien Release. Bank Has No Record Of Loan/lien Release Since It Was Over 10 Years Ago (mn).
I purchased a motorcycle back in 2006 and paid it off around 2012. I was sent a lien release but likely lost the title and lien release in a move around that time. I didn't realize the documents were lost until about 6 months ago when I wanted to prepare to sell the bike. I was able to get a duplicate title mailed to me, but when I contacted the bank, they said they have no record of it since it was over 10 years ago so the best they can do is provide a "no-interest letter". To make things more complicated, the bank wont sign/notarize the letter of no-interest. They are not a small bank, I will gladly name them, but wasn't sure if it was against the rules or not.
The MN DMV says that this is not adequate and that I must provide a lien release or have something signed from that bank in order to sell the vehicle.
So I guess I have 2 questions- 1. Is it normal for a large bank to not want to sign no-interest letters? 2. What recourse do I have?
I'd greatly appreciate any guidance on how to proceed!
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