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North Carolina Repossession Laws
Quick Answers:
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.
Security Interests:
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.
Recovery Requirements:
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful.
Redemption Requirements:
No right of redemption after
foreclosure and sale.
Deficiency Requirements:
Judgment notes are invalid and
deficiency is permitted only if debt
is not for the purchase price.
Special Motor Vehicle Provisions:
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.
Documents Required to Transfer
Ownership of Motor Vehicle:
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.
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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