The Repossessed Motor Vehicle Affidavit is a crucial document in the vehicle repossession process within the United States. It is required when a creditor or their agent takes possession of a vehicle due to loan default, serving as an official record and verification of the repossession event. The affidavit includes essential information such as vehicle identification, circumstances of repossession, compliance with legal requirements, and condition of the vehicle at the time of repossession. This document is particularly important for establishing the legality of the repossession and may be required for court proceedings, DMV documentation, or subsequent sale of the vehicle.
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1. Affiant Information: Identity and authority of person making the affidavit, including name, position, and relationship to the creditor
2. Vehicle Information: Detailed description of the repossessed vehicle including VIN, make, model, year, color, and any identifying features
3. Loan Details: Information about the defaulted loan including borrower details, loan agreement date, default date, and outstanding balance
4. Repossession Details: Specific information about the repossession including date, time, location, and method of repossession
5. Notice Compliance: Confirmation of all required notices provided to debtor, including dates and methods of delivery
6. Verification Statement: Formal statement affirming the truth of all information provided under penalty of perjury
1. Personal Property Inventory: Detailed list of any personal property found in the vehicle at time of repossession, to be included if any items were found
2. Vehicle Condition Report: Detailed assessment of vehicle condition at time of repossession, recommended for high-value vehicles or disputed cases
3. Storage Location Details: Information about where the vehicle is being stored, required if stored at a non-standard location or third-party facility
1. Notice of Right to Redeem: Copy of the formal notice sent to debtor regarding their right to redeem the vehicle
2. Vehicle Condition Documentation: Photographs and detailed documentation of vehicle condition at time of repossession
3. Repossession Authorization: Copy of the original repossession order or authorization
4. Vehicle Title Documentation: Copies of vehicle title or relevant title-related documentation
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