KY TC 96-192 2020-2024 free printable template
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TC 96 192 05/2020 Kentucky Transportation Cabinet Division of Motor Vehicle Licensing AFFIDAVIT SUPPORTING REPOSSESSION AND DISPOSITION OF A VEHICLE For use by Secured parties in compliance with KRS 186. 045 6 Attach this form to your Title or Registration application documents and deliver to your County Clerk STATE OF KENTUCKY COUNTY OF The affiant states that he/she is Title President Secretary etc* of Name of Secured Party day of Kentucky and that on the entered into a security...
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How to fill out ky repossession 2020-2024 form
How to fill out ky repossession:
01
Obtain the necessary forms for the repossession process. These forms can usually be obtained from the Kentucky Department of Motor Vehicles or the lender who holds the lien on the vehicle.
02
Fill out the required information on the forms accurately and completely. This may include details about the vehicle, the lender, and the borrower. It is important to double-check all information to ensure its accuracy.
03
Provide any supporting documentation that may be required. This could include proof of ownership, payment history, and any relevant correspondence.
04
Submit the completed forms and supporting documents to the appropriate party. This is typically the Kentucky Department of Motor Vehicles or the lender. Follow the instructions provided to ensure proper submission.
05
Keep a copy of all documents for your records. This will be important in case there are any disputes or issues that arise during the repossession process.
Who needs ky repossession:
01
Individuals or businesses who have financed a vehicle purchase and are unable to fulfill their loan obligations.
02
Lenders who have provided financing for the purchase of a vehicle and need to repossess it due to non-payment or other contractual violations.
03
The Kentucky Department of Motor Vehicles, as they are responsible for overseeing and regulating the repossession process within the state.
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Instructions and Help about affidavit of repossession form
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What is the purpose of ky repossession?
The purpose of a vehicle repossession is to recover a vehicle from a borrower who has defaulted on their loan payments. When a borrower has failed to make loan payments, the lender has the right to take possession of the vehicle and sell it in order to recoup the money owed.
How to fill out ky repossession?
1. Gather the necessary documents. You will need a copy of your driver's license, proof of insurance, and a valid form of payment.
2. Contact your lender and provide them with the documents.
3. Fill out the repossession paperwork. This paperwork will include information about the vehicle, such as the year, make, model, VIN, and odometer reading.
4. Pay the repossession fee. This is generally a non-refundable fee that covers the cost of repossessing the vehicle.
5. Sign the repossession agreement. This document will outline the terms of the repossession and the lender's rights.
6. Drop off the vehicle at the lender's designated location.
7. Pay any outstanding fees or charges associated with the repossession.
8. Request a copy of the repossession paperwork. This document will serve as proof that the repossession was completed.
What is ky repossession?
Ky repossession refers to the process of reclaiming a property or asset by a lender or creditor in the state of Kentucky, typically due to the borrower's failure to make timely payments. It usually applies to situations where a borrower has defaulted on a loan or lease agreement, such as an auto loan or a mortgage. In these cases, the lender may legally take possession of the property and sell it in order to recoup the outstanding debt.
Who is required to file ky repossession?
The person or entity required to file for repossession in Kentucky is typically the creditor or lender who holds a security interest or lien on the property or collateral being repossessed. The repossession is typically sought when the borrower or debtor has defaulted on their loan or financial agreement.
What information must be reported on ky repossession?
In Kentucky, when a vehicle is repossessed, the following information must be reported:
1. The name and address of the debtor (the person who owes the debt) and the name and address of the secured party (the lender or lienholder).
2. The make, model, year, and vehicle identification number (VIN) of the repossessed vehicle.
3. The date, time, and location of the repossession.
4. The name, badge number, and contact details of the person executing the repossession.
5. The reason for the repossession (e.g., default on loan payments) and any other relevant details about the repossession process.
6. If the repossessed vehicle is to be sold, the proposed method of sale and the estimated amount of proceeds expected from the sale.
7. Any personal belongings or other items found in the vehicle at the time of repossession and their disposition (whether returned to the debtor, sold, or otherwise).
These details must be reported to the Kentucky Transportation Cabinet's Division of Motor Vehicle Licensing within 15 days of the repossession. The information is required to maintain accurate records and protect the rights of all parties involved in the repossession process.
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