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certificate of title |
Also found in: Wikipedia | 0.12 sec. |
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certificate of title n. generally, the title document for a motor vehicle issued by the state in which it is registered, describing the vehicle by type and engine number, as well the name and address of the registered owner and the lienholder (financial institution that loaned money to buy the car). Since in some states these documents are usually pink, the certificate of title is sometimes called a "pink slip." |
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NovaGold has received a certificate of title from Placer Dome for the assignment of a 70% interest in the Donlin Creek exploration and mining lease agreement. At the time of purchase, the terms of the note and security agreement grant to PeopleFirst a security interest in the vehicle and require the obligor to have the servicer noted as lien holder on the certificate of title for the vehicle. Immediately following the developer's default, American Safety Re obtained a judgment against the developer for $12,117,857 (which includes accrued interest), foreclosed on the property, and received a certificate of title to the property on April 13, 1999. |
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certificate of title