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The Minnesota Notification of Assignment form plays a crucial role in managing secured interests related to vehicles. This form is used when a secured party assigns, releases, or grants a security interest in a vehicle. It includes essential information such as the year, make, model, and vehicle identification number, along with the names and addresses of the vehicle owner(s) and secured parties involved. To ensure the accuracy and validity of the transaction, the form requires signatures from the relevant parties and, in some cases, notarization. Specific instructions guide users through the process of assigning a lien, releasing a lien, or granting a new security interest, each with its own requirements and associated fees. For instance, the release of a lien must be completed within a set timeframe and submitted alongside the current certificate of title. Understanding these details is vital for anyone involved in vehicle financing or ownership transfers in Minnesota, as proper completion of this form is necessary to protect the rights and interests of all parties involved.
Form Example
MINNESOTA DEPARTMENT OF PUBLIC SAFETY
DRIVER AND VEHICLE SERVICES
445 Minnesota Street
Saint Paul, MN
Phone: (651)
Visit us: drive.mn.gov
Print Form
Notification of Assignment, Release or Grant of Secured Interest
Instructions on reverse side
YEAR |
MAKE |
TYPE |
MODEL |
OWNER(S) NAME
STREET ADDRESS
CITY |
STATE ZIP CODE COUNTY |
SIGNATURE OF OWNER(S), NECESSARY ONLY WITH GRANT
X
A
VEHICLE IDENTIFICATION NUMBER |
TITLE NUMBER |
SECURED PARTY'S NAME
STREET ADDRESS
CITY |
STATE ZIP CODE COUNTY |
SIGNATURE AND TITLE OF AUTHORIZED AGENT
X
ASSIGNMENT The secured party named in Section A has assigned his interest to the secured party named in Section B.
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RELEASE |
The secured party named in Section A no longer claims a security interest |
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in the vehicle described above. DATE OF RELEASE |
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GRANT |
The owner(s) have granted to the secured party named in Section A, a |
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security interest in the vehicle described above. |
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DATE OF SECURITY AGREEMENT |
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ASSIGNEE'S NAME, NECESSARY ONLY WITH ASSIGNMENT |
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B |
STREET ADDRESS |
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CITY |
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STATE ZIP CODE COUNTY |
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This form must be notarized to
release a lien.
Subscribed and sworn to before me this
day of |
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20 |
NOTARY PUBLIC
COUNTY
MY COMMISSION EXPIRES
- over - |
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Notification of Assignment, Release or
Grant of Secured Interest
INSTRUCTIONS
ASSIGNMENT OF LIEN
1.The Assignor must be listed as secured party on the application for title or on the current certificate of title.
2.The Assignor must complete section A and list the name and address of the Assignee in section B.
3.The assignment must be submitted with the current certificate of title.
4.Fees: $1 plus $11 filing fee. For an assignment noted concurrently with the secured interest, no fee is required. The assignment accompanies the granting of a second interest.
RELEASE
1.The secured party must complete this form within 15 days after satisfaction of the security agreement.
2.The secured party must complete and sign section A.
3.The form must be notarized
4.This release must be submitted with the current certificate of title.
5.Fee: $11 filing fee
GRANT
1.The owner of the vehicle must complete section A of this form.
2.The grant must be submitted with the current certificate of title.
3.Fees: $2 plus $11 filing fee
All forms and fees may be submitted to your local motor vehicle office or you may make the check payable to
Driver and Vehicle Services and mail the forms to:
Driver and Vehicle Services
445 Minnesota Street
Suite 187
St. Paul, Minnesota
Form Specifications
| Fact Name | Details |
|---|---|
| Governing Law | The Minnesota Notification of Assignment form is governed by Minnesota Statutes, Chapter 168A, which pertains to motor vehicle titles and secured transactions. |
| Purpose | This form is used to notify relevant parties of the assignment, release, or grant of a secured interest in a vehicle. |
| Notarization Requirement | The form must be notarized for a lien release to be valid, ensuring proper verification of signatures. |
| Fee Structure | Fees include $1 plus a $10 filing fee for assignments and releases. Grants require a fee of $2 plus the $10 filing fee. |
| Submission Location | Completed forms and fees can be submitted to local motor vehicle offices or mailed to the Driver and Vehicle Services in St. Paul. |
| Timeframe for Release | The secured party must complete the release form within 15 days after the satisfaction of the security agreement. |
| Sections of the Form | The form consists of multiple sections, including details about the vehicle, owner(s), secured parties, and the nature of the assignment or release. |
| Certificate of Title Requirement | The assignment, release, or grant must be submitted along with the current certificate of title for processing. |
| Contact Information | The form provides contact information for the Minnesota Department of Public Safety, including a phone number and website for further assistance. |
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