[vophsi]

Where can I find the laws for repossession? Specifically, what can and cannot be done by the repo person... thanks

[N0help4u]

Basically:
As per the UCC, repossession is allowed and permitted as long as it is peaceful.

Redemption Requirements:

Security agreements allow 21 days prior to date of sale by payment in full.

Deficiency Requirements:

Confession of judgment is valid. Deficiency is permitted but if debtor has paid 50% of the contract price, resale bars suit for price.

Special Motor Vehicle Provisions:

All liens must be noted to be effective and title is retained by lienholder. No other recording required.

Documents Required to Transfer Ownership of Motor Vehicle:

Certificate of title in lienholder's name, notarized Bill of Sale. Liens are released on the face of the title.

Documents Required for Liquidation:

After Repossession, the lienholder shall mail the Affidavit of Defense to the registered owner's last known address giving the owner 21 days from the date of the certified mail to redeem this unit. The vehicle may not be sold or transferred during this period.

Plates:

Remain with the owner / debtor.

[vophsi]

Thanks. I found that answer prior to posting this. Can the repo man come to a person's work? Can a person be arrested for not handing over the keys? Thanks

[N0help4u]

The guy that I worked for said they can go to your work but they prefer not to
And there really isn't much sense in keeping the keys because they often have or can get a master key.

[vophsi]

Thanks. The person who has the car wants to turn it over, but not until the 1st of the month when they will be getting another one.