answersLogoWhite

0


Best Answer
Copy

Yes, if the contract requires that the borrower carry insurance coverage. If the borrower fails to adhere to any of the requirements stated in the written agreement the contract is in default and the lender has the legal right to recover the vehicle.

2006-08-07 12:39:20
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Add your answer:

Earn +5 pts
Q: Can a vehicle be repossessed by the lien holder for not having insurance in the State of Maine?
Write your answer...
Submit

Related Questions

Can a lien holder file an ins claim on customer's auto policy?

No a lien holder can not file a claim against the insurance company as they are not the named insured, you are. Although if there is a lien on the vehicle the insurance payment for damages to your vehicle will be in your name and the lien holder name. They then might require that you fix the vehicle so they can protect their interest in the vehicle. each lien holder is different. CORRECTION: If the lien holder is named on the policy and the vehicle has been repossessed, the lienholder has a right to recovery under that policy.


Is there any way to get a repossessed car back without paying the car insurance?

Not Unless you can prove that you already had the required insurance.AnswerNo. as soon as you have no insurance on a leased vehicle, the lein holder has the legal right to repo it.


How do you get an insurance company to issue check for repairs to just the lien holder if the vehicle has been repossessed?

Talk with the adjuster and explain the situation and I'm sure they will work something out. They may still have to issue the check to you and the lienholder because you are the person who has the contract with the insurance company.


Who gets the claim money car owner or policy holder?

The car owner and the policy holder better be the same person. If not nobody will be able to get the money. You cannot insure a vehicle that you do not own. If you do the insurance company cannot pay the policy holder because they don't own the vehicle. They can't pay the vehicle owner because they don't have a contract of insurance with the insurance company.


Can a repo agent refuse to return personal property from a repossessed vehicle when the property does not belong to the note holder and then lie to the lender when you consult with them?

== == NO


Is it legal for an insurance company to let you get liability insurance on a vehicle that has a lien holder on it?

Certainly, liability insurance has nothing to do with who owns the vehicle. It deals with protecting the owner of the vehicle if sued as a result of an accident. Collision and theft protect the owner of the vehicle from loss.


Your jeep is in repossision but your ex wife has the jeep and the can not find it can you be arrested it is in your name?

I'm assuming you are saying the Lien Holder cannot locate the vehicle? In many states the vehicle is not repossessed until the Lien Holder or their agent is in possession of the vehicle. Therefore normally you could not be arrested because they cannot locate the vehicle.


Can your car be repossessed if there is no lien holder on title?

no


Can a lien holder on a vehicle take property out of your vehicle?

Theoretically no. If the vehicle is repossessed you are supposed to be given the contents back. However, this does not apply to INSTALLED items, so if you've upgraded the stereo system, or installed premium equipment like a high-performance engine, those are considered to be part of the vehicle. Also, it's likely to be your word against the vendor about what was in the vehicle at the time it was repossessed.


Does an insurance company have to pay the lien holder directly after an auto accident?

An insurance company generally does not pay the lien holder directly. The vehicle owner is responsible for paying for insurance coverage and will often deal with the insurance company themselves after a collision has taken place.


Clear car title car for repossessed car?

098765445436376547274574 After the vehicle is repossessed and the lien holder (lender) has physical possession of the vehicle (after following state law requirements) they would simply request, and pay for a new title at a cost of a few dollars, and upon proper proof of a proper repossession.


Who gets insurance money on a total loss policy holder or vehicle owner?

Lien holder is paid first, any balance goes to registered owner.


Who is responsible for hail damage that happened while a car was repossessed?

The owner of the car listed on the insurance policy.


Can you get car insurance for a car you do not own?

Yes. ... and no... the person that owns the car actually has to be the polcy holder. But you can be a listed driver and the one who pays it and get experience for having insurance. the owner of the car doesnt even have to be a driver. But because she/he owns the vehicle they have an insurance interest in the car and must own the policy.


Can you buy the car insurance if you do not own the car?

no the person that owns the car actually has to be the polcy holder. But you can be a listed driver and the one who pays it and get experience for having insurance. the owner of the car doesnt even have to be a driver. But because she/he owns the vehicle they have an insurance interest in the car and must own the policy


Is it the responsibility of an insurance company to notify the lien holder on a vehicle if any change in coverage?

Yes, they are required by law to notify your lien holder of any change in coverage.


Can reposession company file a claim with your car insurance company to fix preexisting damage?

If your lien holder repo's your vehicle, they can file a claim against your insurance for damage to the vehicle. The repo company itself would have no claim, because it's not their vehicle.


If the loan for a vehicle is in one person's name and the tite in another's what are the rights of the person on the title if the vehicle is repossessed?

None, unless the person who is named on the title chooses to make an agreement with the lender to refinance the car in their name. A title which has a lien against it does not confer ownership to the title holder. The vehicle belongs to the lender/lien holder until the loan agreement is paid.


Can a car be repossessed if there is a lien holder on title but there is no actual loan?

hi


who is the lein holder?

Who is the lein holder on this vehicle


Can you get insurance on an auto if ido not own it in pa?

No, because there is not an insurable interest on your part. You can pay for it. But the titleholder of the vehicle is the policy holder.


What is the name of the holder of an insurance policy?

is it a policy holder?


Who is the person that is the holder an insurance policy?

policy holder


What is the process of having the ownership of a vehicle that was repossed back into the lien holders name?

There is no transfer of ownership - the lie holder was always the one who had ownership of the vehicle.


How can you find out if my car is scheduled to be repossessed?

I could call the loan holder, or I could have you do it.