HomeCan a private lienholder on the pink slip without a repo license repossess a car in California when the registered owner has defaulted?
Wiki User
2015-07-15 18:47:01
2015-07-15 18:47:01
YES. http://www.leginfo.ca.gov/cgi-bin/displaycode?section=bpc&group=07001-08000&file=7500-7500.3 7500.3. A repossession agency shall not include any of the following:
(d) The legal owner of collateral which is subject to a security agreement.
Related Questions
No. The lienholder is the only entity with a right to repossess.
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.
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