0
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.
Add your answer:
Earn +20 pts
Can a dealership repossess your car if they are not the lien holder?
No. The lienholder is the only entity with a right to repossess.
Can your car be repossessed from the towing lot that towes your wrecked vehicle?
If there's a lienholder on that vehicle, yes, that lienholder can repossess it.
Can you legally repossess your car with a lien on the title?
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.
When can a bank repossess someones car?
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.
When a bank repossess someones car?
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.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Can you repossess a car if you do not have a written contract on it but you are a lienholder and you have the title with your name listed as lienholder?
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.
Is there a time limit in which a car can be repossessed?
As long as there is a lien on the vehicle the lienholder has the right to repossess the property
Is it illegal to repossess a vehicle in Texas?
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
Can a debt collector repo your car is they are not lienholder on title?
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 you have the title to your vehicle can the bank still repossess it?
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
Is it legal to repossess a car in Michigan from a repair shop?
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.
