Form Lb 063 PDF Details

Managing the ownership and security interests in personal property, such as watercraft, requires meticulous attention to legal documentation and procedural adherence. The LB-063 form plays a pivotal role in this regard, serving as an official notification for the assignment, release, or grant of a secured interest in a watercraft. Through various sections, this form outlines the process for adding a new secured party, satisfying and releasing a security agreement, and assigning interest from one party to another. For instance, in the case of granting, it necessitates the inclusion of the secured party's name in Section A, followed by attaching the form to the Certificate of Title. A release indicates the fulfillment of a subordinate agreement, necessitating action within a specified 15-day period. Conversely, assignments demand clear identification of both assignor and assignee, detailing an orderly transfer of interests. Critical information, such as the watercraft's identification and the owner's details, underpins these transactions, ensuring clarity and legal validity. Moreover, the requirement for signatures underscores the importance of authorization and consent in these dealings. Ultimately, the submission of this form to the Department of Natural Resources, complemented by any necessary documentation, finalizes the procedural aspects, reinforcing the legal infrastructure that supports the clear delineation and transfer of secured interests.

QuestionAnswer
Form NameForm Lb 063
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other nameslien minnesota notification of assignment release or grant form

Form Preview Example

LB-063

NOTIFICATION OF ASSIGNMENT, RELEASE OR GRANT

OF SECURED INTEREST

Grant: The name of the secured party being added is entered in Section A. The party in possession of the Certificate of Title must attach this form to the certificate.

Release: This form is to be completed within 15 days after satisfaction of a subordinate security agreement. Enter the subordinate secured party name and address in Section A. This form is sent to the owner who delivers it to the first secured party who is in possession of the CERTIFICATE OF TITLE. Attach the form to the Title and deliver to the Department of

Natural Resources or the nearest Deputy Registrars office.

Assignment: The assignor must be named either on the application for Certificate of Title or on the Title to assign their interest. The name and address of the assignee are entered in Section B. If the assignor does not have the Certificate of Title in their possession, they must deliver the assignment to the secured party possessing the Title who forwards the Title and assignment to the Department of Natural Resources. For an assignment noted concurrently with the secured interest, the assignment accompanies the granting of a secured interest.

Year

 

Make

 

 

Model

 

 

 

 

Registration Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hull Identification Number

 

 

 

 

 

 

Title Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

 

 

 

City

 

 

State

 

Zip Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Owner (Necessary only With Grant)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SectionA

 

 

Secured Party Name

 

MN Tax Id No.

SectionB

 

 

Assignee Name (Assignments Only)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

 

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

State

Zip Code

 

 

 

City

 

State

 

Zip Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature and Title of Authorized Agent

 

 

 

MN Tax ID No.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GRANT: The owner (s) have granted to the secured party named in section A, a secured interest in the watercraft

described above. Date and time of security agreement: _______________________

AM

PM

RELEASE: The secured party named in section A no longer claims a security interest in the watercraft described above.

Date of release: _________________

ASSIGNMENT: The secured party named in section A has assigned their interest to the secured party in section B.

Please mail or fax application and required documentation (if any) to:

Department of Natural Resources / License Center – Titles 500 Lafayette Rd

St. Paul, MN 55155-4026

Office: 651-296-2316 or 800-285-2000

Fax: 651-297-8851

October 7, 2008

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This PDF requires particular details to be typed in, hence be certain to take some time to enter precisely what is requested:

1. Fill out the Form Lb 063 with a group of necessary blanks. Get all of the information you need and make certain there's nothing left out!

Step number 1 in filling in Form Lb 063

2. Soon after filling out the previous part, go to the subsequent part and fill out the necessary details in all these blank fields - described above Date and time of, RELEASE The secured party named in, ASSIGNMENT The secured party named, above Date of release, Please mail or fax application and, and October.

Find out how to prepare Form Lb 063 part 2

Always be really attentive when filling in October and Please mail or fax application and, because this is the section in which most people make mistakes.

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