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Pennsylvania Repo Laws - Repossession Laws
Because the Repo Laws - Repossession Laws may change from time to time, please check the Pennsylvania Courts website for updated and complete Repo Laws - Repossession Laws in Pennsylvania.
Repo Laws - Repossession Laws in Pennsylvania:
Where do I refer to for Title or License Registration? For state Title and License Information, refer to:
Pennsylvania Department Of
Transportation
Telephone: 1-800-932-4600 Shown on title held by lienholder.
Recording Requirements:
Per the
Uniform Commercial Code (UCC)
adopted in July, 1954: A copy of the
Security Agreement recorded in the
county whee mortgagor resides except
as to motor vehicles.
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful.
Fifteen (15) days redemption.
Judgment note permitted and
deficiency is permitted if security
agreement so provides.
Liens must be recorded on face of
title and lien statement delivered
to Secretary of State. Liens good
for five years. Debtor's certificate of title; certified copy of agreement; certified copy of the notice of sale sent to the debtor; statement from encumbrance holder.
Documents Required for Liquidation: 1) Seizure Notice, Notarized 2) Notarized copy of contract front and back sides 3) Title odometer statement. The lender acts as the "SELLER" and includes his title next to his signature in both cases. 4) Copy of redemption letter to debtor, notarized 5) Copy of certified mail receipt used to send out the redemption letter, notarized 6) Motor Vehicle Form MV216A (request from your repossessor) 7) Bill of Sale, Notarized 8) Letter authorizing repossessor to sell for high bid and the dollar amount.
Plates: Remain with the owner / debtor.
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. |