                                 CODE OF VIRGINIA

RELEASE OF SECURITY INTEREST SHOWN ON CERTIFICATE OF TITLE (§ 46.2-642)

When an owner secures the release of any security interest on a motor vehicle,
trailer, or semitrailer shown on its certificate of title, he may exhibit the
documents evidencing the release, signed by the person or persons making the
release, and the certificate of title to the Department. However, when it is
impossible to secure the release from the secured party, the owner may exhibit
to the Department whatever evidence may be available showing that the debt
secured has been satisfied, together with a statement by the owner under oath
that the debt has been paid. The Department, when satisfied as to the
genuineness and regularity of the release, shall issue to the owner either a new
certificate of title or an endorsement or rider showing the release of the
security interest, which the Department shall attach to the outstanding
certificate of title.

HISTORY: Code 1950, § 46-75; 1958, c. 541, § 46.1-75; 1966, c. 558; 1972, c.
249; 1989, c. 727.