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Maine Repossession Laws

For those considering assigning a repo in Maine, such residents should look at our free repo resource, that includes all required repossession rules having to do with the state’s repo process.

For example, for a repo to happen in Maine, you should know that security interests need to be shown on title of the lienholder. In addition, license plates must remain with the registered owner. Also, repossession recovery is only allowed so long as there is no disturbance of the peace after a 14-day Right to Cure Letter is issued to the borrower. For license registration, you can contact the Maine Motor Vehicle Division at (207) 287-9002. Lastly, title and an affidavit of repossession are required for liquidation.

We take pride in providing the state of Maine with repo services on that range from small equipment to large real estate. We look forward to processing your property all the way from its initial seizure to the remarketing. Also, we will gladly handle any inspection and appraisal for resale once we are though.

For more detailed info, contact us for a free consultation and quote at (630) 358-9434.  

 

As reported by the American Recovery Association, Inc. (ARA).

Maine Repossession Laws
REPOSSESSION LICENSES: Repossession Companies must be licensed as debt collectors with Maine Bureau of Consumer Protection.
TITLE STATE: Yes
SECURITY INTERESTS: Shown on title held by lien holder.
LICENSE REGISTRATION: Maine Motor Vehicle Division, State House, Station 29, Title Section, Augusta, Maine 04333 Tel: (207) 287-9002.
RECOVERY REQUIREMENT: After fourteen day Right to Cure Letter from lien holder to debtor, Maine repossession allowed without committing a breach of the peace.
DOCUMENTS REQUIRED FOR LIQUIDATION: Title, Repossession (MVT-15).
PLATES: Remain with the debtor.

Constitution and Legislation

 

Judicial Opinions

 

Regulations and Other Agency Material

 

Additional State Equipment Repo Legal Resources

 

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