No. The lienholder is the only entity with a right to repossess.
If there's a lienholder on that vehicle, yes, that lienholder can repossess it.
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
If you don't have a "contract", you aren't a leinholder. A lienholder must have a contract and have filed the notice with the county recorders office and the title must state you as the leinholder. If the person is named on a title as a lien holder he or she has the legal option of repossessing the vehicle as it is determined by the laws of the state where the vehicle is registered.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
As long as there is a lien on the vehicle the lienholder has the right to repossess the property
No, not if the contract is in default. The lender/lienholder may repossess the vehicle under UCC laws as long as it can be accomplished without a breach of peace committed
No. To be able to repossess any of your property, they must hold a lien on it. If they have no lien on it, they have no right to repossess. Their only option is to take you to court.
If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
Yes. A lienholder is the lawful and sole owner of that vehicle, and it doesn't matter where they repossess it from, so long as they do it in accordance with state laws for repossession.
The same way a loan company does, HIRE a REAL repo agency to do the job.
No. The lienholder is the rightful owner of the vehicle, and can reclaim their property as needed.
Confusing, but there are a number of scenarios where this might be possible. First, if the lender is the lender on the vehicle, the ARE a lien holder. They may not have "perfected" the lien, that is registered it with the state, but that is an easy matter for them to rectify. Second, if they are not the lender on the vehicle, and there is no other lien holder, provided they have a judgment, the court may order the surrender or sale of other property to satisfy the debt and the judgment. Third, if you have two vehicles with the same lender, and you are defaulted on one but current on the other, the lender may choose to do what is called a"converson of collateral." If so, then the lender may repossess the vehicle you are current on due to the default on the other. They will take which ever vehicle is the esiest to recover in these situations.
Whomever the lien holder has hired for that purpose. Providing you have defaulted on the payment terms of your contract.
As soon as you have defaulted on the loan, a creditor can repossess your car. So 24 hours after you have failed to pay, they can repossess your vehicle without notifying you.
Yes. The lienholder is the rightful, legal owner of the vehicle, and can take possession of that vehicle anywhere.
When there are multiple liens on a car, it is possible for either lien holder to repossess it. However, one lien holder is normally in the first position and the other one is in the second position. The one with his name on the title is normally the one in the first position and is the one who gets paid first when a car is repossessed, no matter who does the actual repossession.
The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.
YES, its legal. The lease you signed was a legal contract calling for you to do certain things at certain times. You defaulted on those terms and the Lender is reporting that you defaulted.
yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....
Hopefully, you had the good sense to put a lien on that vehicle. You can have a recovery agent repossess the car.
No it's not illegal to repossess a car outside the state. It is illegal to leave the state with the car that you have defaulted on the loan.
I would think so.