Louisiana
2010
Title State License and Registration information refer to: Department of Public Safety, Motor Vehicle Division, Baton Rouge, Louisiana 70821. Phone: (504) 925-6146, Fax: (504) 925-3665. Louisiana does not offer a Fast Title Service. Fees for registration and title may vary.
Recording Recorded on Parish basis. Liens on motor vehicles must be recorded on title.
Recovery The debtor is required to sign a voluntary surrender. (Right to collect deficiency balance from debtor will be lost if the word "release" is in the document.) BEGINNING JANUARY 1, 2005, Self Help Recovery may be used. Certain fees must be paid to local authorities when using the Self Help Recovery according to LA.965(d). A pre notice of repossession must be sent to the debtor prior to recovery and include the following information: Debtors/Co. full name and address; Description of the Collateral, including the Vehicle Identification Number and the following Statement in at least 12 point type: "LOUISIANA LAW PERMITS REPOSSESSION OF MOTOR VEHICLES WITHOUT JUDICIAL PROCESS". The debtor must be at least 60 days past due before using the self Help Remedy. Self Help Recovery is limited to Motor Vehicles only. Other prerequisites apply.
Redemption Not permitted after sale of collateral.
Deficiency Are permitted. Confession notes are invalid.
Special Motor Vehicle Provisions Chattel mortgages recorded on Certificate with the Commissioner of Motor Vehicles Div. and another with the Clerk of Court in Parish where debtor resides.
Documents Required to Transfer Ownership of Motor Vehicle Title in lienholders name (any state) notarized Bill of Sale (showing amount, buyers name, date of sale) or title in lienholders name with lien released, notarized affidavit of Repossession, completed notarized Bill of Sale. PLATES: Tags must be turned in to the Motor Vehicle Department. Recovery agents MUST be licensed through the Office of Financial Institutions, Baton Rouge, Louisiana. An Agency must hold a license and each recovery agent must hold a license. The requirements to obtain these licenses are set forth in Louisiana R.S 6:965.