Repossessions

A repossession is when a lienholder seizes ownership of a vehicle for breach of a security agreement (usually non-payment of the loan)

Lien recorded on a title

A lienholder who has repossessed a vehicle for breach of the security agreement can transfer the vehicle to a new owner. If the lienholder has a recorded lien on the certificate of title, he/she must provide the following items when transferring the vehicle to a new owner:

• A notarized affidavit of repossession

• A lien release letter or a release on title

• The certificate of title assigned to the new owner

Lien not recorded on title

A lienholder who has repossessed a vehicle for breach of the security agreement without a lien recorded on the certificate of title must apply for a new title in the lienholder’s name. The lienholder must provide the following:

• A notarized affidavit of repossession

• A copy of the security agreement

• A notarized affidavit of fact

• A Registration and Title Application completed in the name of the lending institution

• $75.00 title fee

Additional Resources

Registration and Title Application