Court Opinions

State Laws

US Code

US Constitution

Assignment by lienholder of security interest - 75 Pa. Cons. Stat. § 1134

Legal Research Home > Pennsylvania Statutes

     § 1134.  Assignment by lienholder of security interest.
        (a)  General rule.--A lienholder may assign, absolutely or
     otherwise, his security interest in the vehicle to a person
     other than the owner without affecting the interest of the owner
     or the validity or perfection of the security interest but any
     person without notice of the assignment is protected in dealing
     with the lienholder as the holder of the security interest and
     the lienholder remains liable for any obligations as lienholder
     under this chapter until the assignee is named as lienholder on
     the certificate of title.
        (b)  Duty of assignee.--The assignee shall deliver to the
     department the certificate of title and an assignment by the
     lienholder named in the certificate of title on a form
     prescribed and furnished by the department and accompanied by
     the required fee. Failure of the assignee to make the delivery
     shall not affect the validity or perfection of the security
     interest.
        (c)  Division 9.--The provisions of this subchapter are
     subject to 13 Pa.C.S. § 9308(e) (relating to when security
     interest or agricultural lien is perfected; continuity of
     perfection).
     (June 8, 2001, P.L.123, No.18, eff. July 1, 2001)

Last modified: November 27, 2007