§ 2119. Security interest. If an owner creates a security interest in a vehicle:

Terms Used In N.Y. Vehicle and Traffic Law 2119

  • Commissioner: includes the office and a branch office of the commissioner and, when authorized to receive a document or fee as agent of the commissioner, the clerk of a county. See N.Y. Vehicle and Traffic Law 2101
  • Lienholder: means a person holding a security interest in a vehicle. See N.Y. Vehicle and Traffic Law 2101
  • mail: means to deposit in the United States mail properly addressed and with postage prepaid. See N.Y. Vehicle and Traffic Law 2101
  • Owner: means a person, other than a lienholder, having the property in or title to a vehicle. See N.Y. Vehicle and Traffic Law 2101
  • Security interest: means an interest in a vehicle reserved or created by agreement and which secures payment or performance of an obligation. See N.Y. Vehicle and Traffic Law 2101
  • Vehicle: means a vehicle as defined in section one hundred fifty-nine of this chapter except that it shall not include a device for which a registration is denied pursuant to section four hundred-a of this chapter and, except with respect to section twenty-one hundred two of this article, shall also mean a vessel as defined in section twenty-two hundred fifty of this chapter. See N.Y. Vehicle and Traffic Law 2101

(a) The owner shall, if the lienholder so requests, execute the application, in the space provided therefor on the certificate of title or on a separate form the commissioner prescribes, to name the lienholder on the certificate, showing the name and address of the lienholder, and cause the certificate, application and the required fee to be delivered to the lienholder.

(b) The lienholder shall, immediately after the owner complies with subdivision (a), cause the certificate, application and the required fee to be mailed or delivered to the commissioner.

(c) Upon receipt of the certificate of title, application and the required fee, the commissioner shall either endorse on the certificate, or issue a new certificate containing, the name and address of the new lienholder, and mail the certificate to the owner.