car loan

[pontiac2000]

i am in california; i took out a loan for a car and i've made one payment.the bank sent me a letter saying"thankyou for sending your final payment" attached was a certificate of ownership or lien satisfied releasing interest in the vehicle.this was signed and a notary witnessed the signature. i guess my question is, if i do what they said to do and take this to motor vehicles,get the title am i going to be responsible for it in the future? or in some kind of trouble?what can they do since they sent the paper work? what are my rights?

 

[I AM ALWAYS LIABLE]

i am in california; i took out a loan for a car and i've made one payment.the bank sent me a letter saying"thankyou for sending your final payment" attached was a certificate of ownership or lien satisfied releasing interest in the vehicle.this was signed and a notary witnessed the signature. i guess my question is, if i do what they said to do and take this to motor vehicles,get the title am i going to be responsible for it in the future? or in some kind of trouble?what can they do since they sent the paper work? what are my rights?

My response:

The bank has no recourse. They signed the title, which is a negotiable instrument, like a stock certificate, or a signed check. They blew it.

Go register your car with your name on the title.

IAAL