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Document Identification
Title
Fact Sheet: Obtaining Title for Repossessed Vehicle
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- Repossessed Vehicle -\- Obtaining Title (20080407185038_vsd6082.pdf)
Description
Instructions for application for a title in the case of a repossessed vehicle.
Subject Classification
- TRANSPORTATION
- Transportation: Motor vehicles: Vehicle registration and titles
- Transportation: Vehicle registration and titles
Sample text from the file
.Effective Jan. 1, 1999, P.A. 90-665 and Ill. Adm. Code revised the procedures prescribed by the IllinoisVehicle Code (625 ILCS 5/3-114(f)) with respect to the repossession of vehicles by lienholders. The revised requirements are as follows: Voluntary Repossession of Vehicle 1. Once owner assigns the vehicle over to the lienholder, the lienholder may reassign the vehicle to the newpurchaser on the back of the certificate of title. The lienholder has days from the date of sale to the purchaser to provide the purchaser with the reassigned certificate of title. 2. The lienholder must release their interest in the vehicle by executing the "Release of Lien" area on the face ofthe certificate of title. 3. statement on the lienholder's letterhead stating that the transaction is voluntary repossession. The purchaser must submit: * An application for vehicle title and registration (if applicable) and the appropriate fee. * The certificate of title properly assigned to the purchaser on the back
Issuing Agency
Illinois
Vehicle Services Dept.
Contact
Organization: Secretary of State, Division of Motor Vehicles
111 Howlett Building
Springfield, IL 62756
Phone: 217 782 0308
Document Descriptive Information
File Data
- MIME Type: application/pdf
- Language(s): EN-English
- Creation Date (from issuing agency): 10 02 2002
- File Modification Date On Web Server: Mon, 17 Nov 2003 17:05:14 GMT
- Document Modification Date (from issuing agency): 10 09 2002
- Date Accepted Into Depository: Tue, 15 Apr 2008 20:00:02 GMT
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- Web Address On Date Of Deposition: http://www.cyberdriveillinois.com/publications/pdf_publications/vsd6082.pdf
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