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Delaware Repo Laws - Repossession Laws
Because the Repo Laws - Repossession Laws may change from time to time, please check the Delaware Courts website for updated and complete Repo Laws - Repossession Laws in Delaware.
Repo Laws - Repossession Laws in Delaware:
Where do I refer to for Title or License Registration? For state Title and License Information, refer to:
Delaware Division of Motor Vehicles Administration Office P.O. Box 698 Dover, Delaware 19903
Telephone: (302) 739-4463
Fee for search of records is $6.00 Shown on title held by first lienholder.
Recording Requirements:
Per the adoption of
Uniform Commercial Code (UCC) in
July, 1967, record with Recorder of
Deeds in county where property is
located.
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful.
Debtor can redeem within 15 days
after taking by payment of total
balance due plus repossession fees.
Confession of Judgment notes are
invalid but deficiencies can be
collected. Retaking does not bar
suit.
Lien instrument is impressed on the
title. Concealment or sale of
mortgaged property is a crime. State Form MV195 original title showing encumbrance; original of security contract, all documents notarized.
Documents Required for Liquidation: Title. Repossession Affidavit (MV-195), copy of contract.
Plates: Remain with the vehicle.
All recovery requirements and fees are current as of 2002.
Repo-Laws.com does not warrant the accuracy of these Repo Laws - Repossession Laws or recovery requirements. The Repo Laws - Repossession Laws or recovery requirements listed on Repo-Laws.com are only a starting point for reference, and are not meant to be legal advice or a replacement for legal console. Please consult a repo company in your area, county, or state if you have any questions about repossession there. |