This form certifies the repossession of a motor vehicle.
Repossession refers to taking back property through judicial processes, foreclosure, or self-help when a creditor fails to make required payments.
North Carolina Certification of Repossession
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FAQ
You could take your car back by paying your creditor the full balance that you owe in a lump sum. This will likely include the unpaid principal and interest on your loan, plus the creditor's repossession expenses and attorneys' fees.
@tonyrgreen Yes, Owner ID# is your Driver License #.
Getting your vehicle back the same day it was repossessed isn't likely to happen. Most times, you have about 15 to 30 days to work something out with your lender before you can get your car back. While it may not be as soon as you hope, there are ways to recover your vehicle from the recovery company.
Vehicle Information. The Owner's Information. Title Holder's Information. Fill in the Cost and Operation Information. The Owner's Signature. The Owner's Second Signature. Recheck the Vehicle Information. Verify Proper Assignation of the title.
Options to Get Your Car Back After Repossession If you want to get your car back after repossession, you have several options: Redeem the car or reinstate the loan (if allowed in your state or by contract). (To learn more, see Car Repossession: Redemption vs. Reinstatement.)
If your car or other property is repossessed, you might still owe the lender money on the contract. The amount you owe is called the "deficiency" or "deficiency balance."
Once your car has been repossessed, your creditor has the right to ask you to pay the late payments plus the cost of repossession. The creditor may also demand that you pay off the balance of the loan in full.After the vehicle has been sold, you will be notified by the creditor.
North Carolina titles must be notarized. Sign your name (or names) on the back of the title where it says Seller(s) Signature(s). Print your name (or names) on the back of the title where it says Seller(s) Hand Printed Name(s).