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Massachusetts Repo Laws - Repossession Laws
Because the Repo Laws - Repossession Laws may change from time to time, please check the Massachusetts Courts website for updated and complete Repo Laws - Repossession Laws in Massachusetts.
Repo Laws - Repossession Laws in Massachusetts:
Where do I refer to for Title or License Registration? For state Title and License Information, refer to:
Registry of Motor Vehicles
A $10.00 fee per title application
is required for photocopies of the
RMV-1 application and supporting
documents.
From:
http://www.mass.gov/rmv/titles/7search.htm Shown on title held by lienholder.
Recording Requirements:
Security interest and lien perfected
upon delivery of application for
title (MV-1). A lienholder protects
his security interest by filing an
application for title and showing
himself as a creditor or lienholder
on the application.
A Right to cure law is in effect for
all Massachusetts contracts. As per the UCC, repossession is
allowed and permitted as long as it
is peaceful, after a Twenty-one Day
Right to Cure Letter from lienholder
to debtor. Vehicles cannot be
repossessed from property owned or
rented by the debtor.
After the repossession of a vehicle
the debtor must be sent a notice by
certified mail, return receipt
requested, outlining the
lienholder's redemption
requirements; including the
lienholder's intent to sell
collateral either at public auction
or by private sale, if the
requirements are not fulfilled
within twenty working days.
At time of default, if more than two
thousand dollars, deficiency
allowable. If less than two thousand
dollars, none.
None. Massachusetts is a title state and requires that a lienholder who appears on the issued title, surrender it with the appropriate endorsement and release of lien on the reverse side of title, together with an affidavit of repossession, certified notarized copy of contract, and notarized Bill of Sale, to be given to purchaser when selling a vehicle in Massachusetts, also a notarized Power of Attorney to Agent handling sale.
Documents Required for Liquidation: Power of Attorney, lien release, and title.
Plates: Must remain with owner / debtor. If plates are on vehicle at time of repossession, they must be mailed back to owner within 48 hours.
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. |