If a lienholder assigns a security interest in a vehicle to another party, he should submit the proper notice of recorded lien (Form MV-901) appropriately completed to the assignee. The assignee, if he wishes to have his name appear as lienholder on the certificate of title, shall forward the completed notice of recorded lien (Form MV-901) to the Title Bureau, Department of Motor Vehicles, South Mall, Albany, NY 12228, together with the appropriate fee. The department will request the title holder to submit his certificate of title, and upon receipt, will issue a new certificate of title showing the assignee as lienholder and a new notice of recorded lien will be sent to the assignee.
N.Y. Comp. Codes R. & Regs. Tit. 15 § 20.18