Massachusetts
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| 2010 |
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| Title State |
Licensing and Registration information refer to: Massachusetts Registry of Motor Vehicles, Title Division, 1135 Tremont, Boston, Massachusetts 02120. Tel.: (617) 351-9550. Fee for title search: $5.00. |
| Recording |
Security interest and lien perfected upon delivery of application for title (MV-1). A lienholder protects his security interest by filing an application for title and showing himself as a creditor or lienholder on the application. |
| Recovery |
A Right to cure law is in effect for all Massachusetts contracts. Vehicles cannot be repossessed from property owned or rented by the debtor. |
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| Redemption |
After the repossession of a vehicle the debtor must be sent a notice by certified mail, return receipt requested, outlining the lienholder's redemption requirements; including the lienholder's intent to sell collateral either at public auction or by private sale, if the requirements are not fulfilled within twenty working days. |
| Deficiency |
If less than two thousand dollars, none. At time of default, if more than two thousand dollars, deficiency allowable. |
| Special Motor Vehicle Provisions |
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| Documents Required to Transfer Ownership of Motor Vehicle |
Massachusetts is a title state and requires that a lienholder who appears on the issued title, surrender it with the appropriate endorsement and release of lien on the reverse side of title, together with an affidavit of repossession, certified notarized copy of contract, and notarized Bill of Sale, to be given to purchaser when selling a vehicle in Massachusetts, also a notarized Power of Attorney to Agent handling sale. PLATES: Must remain with owner. If on vehicle at time of repossession, mailed back to owner within 48 hours. |
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