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(1) If a person is relocating from another jurisdiction and establishing residence in this state, whether temporary or permanent, and that person has a vehicle registered and titled in another jurisdiction and is not able to surrender title to the vehicle being registered in the state because title is physically held by a lienholder, the division may register the vehicle without issuing a title.
(2) Upon satisfaction of the lien outstanding against the vehicle in the other jurisdiction, the registered owner shall within 10 days of receipt surrender the title from the other jurisdiction to the division and make application for a title.