Depends on the state. Most states have one title that the bank gets. You get it with a lien release letter once it is paid off. New york and maryland have dual titles. One goes to the bank, the other to the owner with the lien info printed on it.
I can look in my NADA book tomorrow and tell you what Michigan does.
Try dmv.org for info.
http://www.dmv.org/mi-michigan/repla...lost-title.php