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Maryland
Repossession Laws
Quick Answers:
Where do I refer to for Title or
License Registration?
For state Title and License Information,
refer to:
Maryland Motor Vehicle
Administration
6601 Ritchie Hwy. N.E.
Glen Burnie, Maryland 21062
Telephone: (410) 729-4550
Fee for search of records is $2.00.
Security Interests:
Title held by debtor. Notice of
security interest filing held by
lienholder.
Recording Requirements:
Per the
Uniform Commercial Code (UCC)
adopted in February, 1964: With
Clerk of Circuit Court in county in
which mortgagor resides and with the
Office of the Secretary of State.
Recovery Requirements:
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful.
Redemption Requirements:
May redeem
within fifteen (15) days after
repossession.
Deficiency Requirements:
Permitted if contract or mortgage so
provides. Confession of judgment
notes are valid, but State statute
provides that retaking bars suit for
price and vice-versa.
Special Motor Vehicle Provisions:
To perfect lien, record same with
Clerk of Circuit Court where
mortgagor resides.
Documents Required to Transfer
Ownership of Motor Vehicle:
Certificate of repossession where
lienholder holds the Certificate of
Title. Otherwise, copy of contract
and Certificate of Repossession
required, notarized Bill of Sale and
notarized Power of Attorney.
Documents Required for
Liquidation:
Title, Notice of Security Interest
Filing VR-104 (Certificate of
Repossession), and VR-5 (Application
for Title).
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.
Quick-Repo.com does not warrant the accuracy of these laws. The laws
listed on Quick-Repo.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 service there.
View
repo laws at
RepoLaws.info and
repossession laws at
RepossessionLaws.info
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