New Hampshire
2009
The State of New Hampshire does not
require a license for repossession.
Title State: License and Registration information
refer to: New Hampshire Division of Motor Vehicles, 10 Hazen Drive, Concord,
New Hampshire 03305. Tel.: (603) 271-3111. Fee for search of records: $2.00.
Recording: Liens recorded with Division of Motor
Vehicles, Title Bureau. Instrument used is title application.
Recovery: Peaceful repossession permitted.
Redemption: Within 10 days after repossession.
Deficiency: Permitted if provided by security
agreement and no provision barring confession of judgment notes.
Special Motor Vehicle Provisions: None.
Documents Required to Transfer Ownership of Motor
Vehicle: Title in lienholder's name; repossession affidavit and
assignment of title from lienholder to transferee or lien release on title,
affidavit of repossession and notarized Bill of Sale. Plates remain with the
owner and are transferable.
Maine
2009
The State of Maine requires a Repossession
License. Unlicensed activity is illegal.
Title State: License and Registration information
refer to: Maine Motor Vehicle Division, State House, Station 29, Title
Section, Augusta, Maine 04333. Tel.: (207) 822-6400. Fee for search of
records: $4.00.
Recording: Recorded with Clerk of municipality in
which debtor lives; or if non-resident, where property is at time of sale.
Uniform Commercial Code adopted December, 1964. Recorded with Secretary of
State for 1975 models on.
Recovery: Recovery agents are licensed by the
State. Recovery must be made under the Right to Cure law, giving a debtor a
20 day notice prior to repossession. The right to cure law is not invoked if
the debtor does not carry the required insurance or if the debtor has fled
the contractual state.
Redemption: Ten day redemption.
Deficiency: Judgment notes are valid and no
statutory provisions resulting in force so assumption is that deficiency is
enforceable if permitted by lien instrument.
Special Motor Vehicle Provisions: None.
Documents Required to Transfer Ownership of Motor
Vehicle: For 1974 and older models: License registration certificate in
lienholder's name. Certified copy of lien instrument, certified copy of
contract, notarized Bill of Sale and Power of Attorney. For 1975 and newer
models: Certificate of Title and supporting documents. PLATES: Plates remain
with owner and may be transferred to another vehicle.
Massachusetts
2009
The State of Massachusetts does not require a license.
Title State: Licensing and Registration information
refer to: Massachusetts Registry of Motor Vehicles, Title Division, 1135
Tremont, Boston, Massachusetts 02120. Tel.: (617) 351-9550. Fee for title
search: $5.00.
Recording: 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.
Recovery: A 21 day Right to cure law is in effect
for all Massachusetts contracts. Vehicles cannot be repossessed from
property owned or rented by the debtor.
Redemption: 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.
Deficiency: If less than two thousand dollars,
none. At time of default, if more than two thousand dollars, deficiency
allowable.
Documents Required to Transfer Ownership of Motor
Vehicle: 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.
PLATES: Must remain with owner. If on vehicle at time of repossession,
mailed back to owner within 48 hours.
Vermont
2009
The State of Vermont does not require a license.
Title State: License and Registration information
refer to: Vermont Department of Motor Vehicles, 120 State St., Montpelier,
Vermont 05603. Tel.: (802) 828-2000. Fee for search of records: Reasonable
fee to be determined by Commissioner.
Recording: In the office of the town clerk of the
town of residence of the purchasers; if non-resident, in county where
property is located. Uniform Commercial Code adopted in January, 1967.
Recovery: Peaceful repossession permitted.
Redemption: Permitted before sale only by curing
the breach of the mortgage.
Deficiency: Judgment notes are invalid.
Special Motor Vehicle Provisions: No special
provisions.
Documents Required to Transfer Ownership of Motor
Vehicle: Registration in lienholder's name; notarized Power of Attorney,
notarized Bill of Sale; repossession affidavit. PLATES: Plates follow the
owner if transferred within 5 days. If not, returned to the Commissioner
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