What does ELT do?
- Enables lenders to accept “electronic titles” from the GA DOR
- When a lien is applied to a title / title applied for, the GRATIS system issues the title electronically and remits that notice to the lenders ELT vendor
- It does not matter if the title was applied for via ETR or manually in a county office
- The vendor’s role is to store that electronic title and allow the lender to perform essentially 2 main functions – 1. Mark the lien as satisfied and print a title, 2. Print the title only.
In Georgia, what is the difference between a lien and a security interest?
A security interest represent voluntary action taken by the vehicle owner. For instance, when applying for a loan with the vehicle as collateral, the lender requires a security interest in the vehicle and will apply to be the security interest holder on the vehicle title. This is simply called a lien in many other states, but a “lien” by contrast in Georgia is involuntary. A court can order a lien placed on the vehicle from payment of taxes, for example.
Does the ELT program apply to all vehicles titles by the DMV (boats, mobile homes)? What class of vehicles are not titled by the DMV?
A Georgia title is required for the following:
- 1986 and newer year model campers,
- 1986 and newer year model car/tow dollies weighing 2,001 lbs., or more,
- 1963 and newer year model manufactured homes,
- 1963 and newer year model mobile homes,
- 1986 and newer year model motorcycles,
- 1986 and newer year model motor vehicles, and,
- 1986 and newer year model travel trailers.
- There are some exceptions listed in the manual, such as for driver education vehicles. Boats are not titled in Georgia. Boat registrations are handled by the Georgia Department of Natural Resources.