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North Carolina Repossession Laws - Repo Laws
Because the Repossession Laws - Repo Laws may change from time to time, please check the North Carolina Courts website for updated and complete Repossession Laws - Repo Laws in North Carolina.
Repossession Laws - Repo Laws in North Carolina:
Where do I refer to for Title or License Registration? For state Title and License Information, refer to:
North Carolina Division of Motor Vehicles Vehicles Registration 1100 New Bern Avenue Raleigh, North Carolina 27696
Telephone: (919) 733-3025
Fee for search of records is $4.00
for certificate of records. Shown on title held by lienholder.
Recording Requirements:
Per the
Uniform Commercial Code (UCC)
adopted in June, 1967: Filed with
the clerk of the Superior Court in
the county where mortgagor or buyer
resides; if a non-resident, recorded
where the property is located. Liens
on motor vehicles must be recorded
on certificate of title.
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful.
No right of redemption after
foreclosure and sale.
Judgment notes are invalid and
deficiency is permitted only if debt
is not for the purchase price.
Certificate of lien is sent to
Department of Motor Vehicles.
Effective against third parties and
need not be otherwise recorded --
liens recorded on title and sent to
first lienholder. Title in debtor's (or lienholder's) name, affidavit of repossession.
Documents Required for Liquidation: Title and Repossession Affidavit, Out of State Repossession titles and affidavits are accepted.
Plates: Remain with the owner / debtor.
All recovery requirements and fees are current as of 2002.
RepossessionLaws.info does not warrant the accuracy of these Repossession Laws - Repo Laws or recovery requirements. The Repossession Laws - Repo Laws or recovery requirements listed on RepossessionLaws.info 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. |