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Oregon Repossession Laws - Repo Laws

 

 

Because the Repossession Laws - Repo Laws may change from time to time, please check the Oregon Courts website for updated and complete Repossession Laws - Repo Laws in Oregon.

 


 

Repossession Laws - Repo Laws in Oregon:

 

Where do I refer to for Title or License Registration?

For state Title and License Information, refer to:

 

Oregon Motor Vehicles Division

ATTN: Record Services

1905 Lana Avenue, N.E.

Salem, Oregon 97314

 

Telephone: (503) 945-5000

 

Fee for license or registration information is $4.00.

Security Interests:

Shown on title held by lienholder.

 

Recording Requirements:

All motor vehicles (except boats) are titled and all records kept with the Motor Vehicle Department.

Recovery Requirements:

As per the UCC, repossession is allowed and permitted as long as it is peaceful.

Redemption Requirements:

Creditor may demand loan balance plus expenses. Ten day redemption period for the balance is required.

Deficiency Requirements:

Suit is permitted only if the loss exceeds $2500.00 per party to the security agreement. (i.e. husband & wife increases loss requirement to $5000.00.

Special Motor Vehicle Provisions:

Liens must be registered with the Department of Motor Vehicles and appear on the face of the certificate of title.

Documents Required to Transfer Ownership of Motor Vehicle:

Lien released from title; repossession affidavit; copy of final demand letter and certified mail receipt as proof of mailing; Bill of Sale.

 

Documents Required for Liquidation:

Out of State Titles or Repossession certificates are required. Oregon titles require a repossession certificate. To transfer title to a repossessed vehicle, the documents needed are: (1) The Original Title endorsed by the lienholder; (2) Notarized Affidavit of Repossession; (3) A copy of the final demand letter with its certified mail receipt attached.

 

Plates:

Remain with the vehicle (except custom license plates, which remain with owner), and are transferable.

 

All recovery requirements and fees are current as of 2002.

 


 

Repossession-Laws.com does not warrant the accuracy of these Repossession Laws - Repo Laws or recovery requirements. The Repossession Laws - Repo Laws or recovery requirements listed on Repossession-Laws.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 there.

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