Question by  arun (26)

Are repossession laws different for different types of items?

Like a car v. a house or a motorcycle . . .


Answer by  Sullislug (46)

In general the principle is the same. First the debtor must be notified that they owe payment. Then the creditor delivers a notice of intent to seize the property to pay off a debt. After that the propery is repossessed and sold to pay off the orignal debt.


Answer by  Dean (4035)

Any item that has a financial lien against it (a mortgage house, financed car or motorcycle) is subject to repossession if the terms of the contract are violated. Each state has a specific procedure for petitioning the court to allow for repossesion, whether it is real property or personal property.

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