• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Repo of Auto

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

joe645

Member
I am in Nevada and I am the lien holder on a auto. I am going to repo the auto for non-payment. Do I need the registered owner's signature on title to sell it.
 


adjusterjack

Senior Member
Do you have a written loan contract with the borrower?

Does that loan contract specify your right to repossess the auto for non-payment?

Without a right of repossession in a contract your taking of the auto might be illegal and subject you to criminal prosecution. I say "might" because I don't have the time to research repossession laws for you. You can do an internet search for Nevada repossession laws. You might have to file a lawsuit and get a judgment that would allow you a process for repossessing the auto.

Meantime, I suggest you discuss your options with an attorney.
 

Zigner

Senior Member, Non-Attorney
From Nevada DMV - there is a Lien Holder section on auto titles.
https://dmv.nv.gov/img/title-2021-blue.png

The question is did the OP have the Lein reflected on the title, or did they sign the unencumbered title over to the buyer?
Your earlier post asked about the loan being mentioned on the title. I agree that there is a lienholder section on the title, and the OP already stated he is the lienholder. It is, however, fair to confirm that he is actually listed on the title as the lienholder.
 

joe645

Member
Sorry should have provided more information. I have a signed Bill of Sale and Promissory Note from Buyer which includes Events of Default and the Note is secured by the "Vehicle" The Certificate of Title has buyer listed as Owner with me listed as Lienholder.
 

adjusterjack

Senior Member
Assuming that your contract was properly written you still have to comply with the statutory process addressed by NRS 482.516 thru 482.518.

Scroll most of the way down at the following link:

Nevada Revised Statutes Chapter 482 (2023) - Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases :: 2023 Nevada Revised Statutes :: U.S. Codes and Statutes :: U.S. Law :: Justia

And here's the required affidavit:

VP-020 Repossession Affidavit 6.2

To answer your original question, no, I don't think you will need the borrower's signature on the title if you do everything according to law.

But it would sure avoid all the legal stuff if he would just sign the vehicle over to you.
 

joe645

Member
Just a short note about the borrower, he is my Grandson. Although he is 38 years old, he is no longer able to pay for insurance, registration, the signed load agreement or gas. In other words he has been out of a job for almost a year other than a few day jobs. He has no future and I want to save and sell the car for as much as I can recover.
 

joe645

Member
I purchased the 2003 Nissan Murano because it had only 85k for $4500. The contract made in 2023 called for him to make $187.50 monthly payments of which he only has made 3. Plus we have fronted gas, oil tires and other repairs which added another $3k. I don't think I am going to be able to get $1,000 for it. He will still owe the $3k and if he ever gets a job, I will go after his wages.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top