This section of Pennsylvania law addresses the assignment of security interests in titled vehicles, allowing lienholders to transfer their interests without affecting ownership or security validity. It also details the responsibilities of the assignee to notify the department and the lienholder's duty to disclose pertinent information upon request. Notably, Section 1133 was deleted in 2001, and the law emphasizes proper procedures for security interest assignments.
Yes, a lienholder can assign their security interest to another person without affecting the owner's rights or the validity of the security interest, provided proper procedures are followed.
The assignee must deliver the certificate of title and an assignment form to the department, along with the required fee. Failure to do so does not affect the security interest's validity.
Yes, the provisions are subject to the rules outlined in 13 Pa.C.S. § 9308(e), which relates to the perfection and continuity of security interests.
The lienholder must disclose any pertinent details about the security agreement and related information to the owner or another lienholder upon written request.