Instructions for Accepting Reposession Titles

INSTRUCTIONS FOR ACCEPTING REPOSESSION TITLES

Requirements:

 The vehicle must be in the possession of the repossessing party

 Repossession Affidavit (TR-84)

o Must be completed

 Security Agreement or Contract

o Must have:

. Year/Make/VIN of vehicle being repossessed

. Specific payment agreement

. Must be certified true and exact

 Verification (that the vehicle was registered in Kansas)

o Must be one of the following:

. The actual title or copy of the front and back of the title or MSO

. Or a verification from the state or county

. Or the NSI letter verifying application has been issued.

 Odometer Statement

o Only needed for vehicle 10 years or newer

 MVE-1 Inspection if needed

o Needed on out-of-state titles

o Or needs exemption filled out on the Repo Affidavit

 Completed title and registration application

4 Reminders of Common Issues to Be Aware of:

1. Be sure the VIN numbers match the application and the supporting documents.

2. Be sure the name of the customer being repossessed from match on all the supporting documents against the verification.

3. Be sure the security agreement is signed by the customer and is readable. 4. Applications must be done in the county where the debtor lives if lender is an out of state lender. Otherwise, applications can be done in either the county where resident lives or county where lender is.

Attached are copies of what we commonly see and whether we can and cannot accept as valid verification.

Rev. 10/16/2011