|
Montana Repo Laws - Repossession Laws
Because the Repo Laws - Repossession Laws may change from time to time, please check the Montana Courts website for updated and complete Repo Laws - Repossession Laws in Montana.
Repo Laws - Repossession Laws in Montana:
Where do I refer to for Title or License Registration? For state Title and License Information, refer to:
Title and Registration Bureau Shown on title held by debtor.
Recording Requirements:
Per the
Uniform Commercial Code (UCC)
adopted in January, 1965: With
County Clerk and Recorder of county
where property is located. Must be
filed with Registrar's Bureau to be
valid against third party creditors.
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful, but retaking bars suit
for price and vice-versa. Trip
permits required on units leaving
the county where repossession takes
place.
Ten (10) day redemption.
Not allowed if buyer has paid at
least one-third of the purchase
price and buyer surrenders to seller
without expense. Judgment notes are
invalid.
Contract filed with registrar of
Motor Vehicles valid against all
persons. Certificate of Title; affidavit of repossession; notarized release of lien.
Documents Required for Liquidation: Affidavit of Repossession, Bill of Sale or Title in Lienholder's name.
Plates: Remain with the owner / debtor, and can be transferred to replacement vehicles of the same type.
All recovery requirements and fees are current as of 2002.
Repo-Laws.com does not warrant the accuracy of these Repo Laws - Repossession Laws or recovery requirements. The Repo Laws - Repossession Laws or recovery requirements listed on Repo-Laws.com are only a starting point for reference, and are not meant to be legal advice or a replacement for legal console. Please consult a repo company in your area, county, or state if you have any questions about repossession there. |