MD TRANSPORTATION 13-205

Maryland Transportation Code Section 13-205 (2024) - Release (a) When a security interest in a vehicle is satisfied, the secured party shall execute a release of the security interest on the form that the Administration requires. (b) When a security interest in a vehicle is satisfied, the secured party shall immediately deliver copies of the release to: (1) The owner; (2) The Administration; and (3) A dealer licensed under Title 15, Subtitle 3 of this article who, on behalf of the owner, pays off the security interest if the owner authorizes the secured party in writing to deliver a copy of the release to the dealer. (c) After it receives a release and the certificate of title, the Administration shall release the secured party’s right on the certificate of title or issue a new certificat...