Repossession means the recovery of an aircraft
Repossession means the recovery of collateral as defined in this chapter by a licensed recovery agent who is authorized by the legal owner, lienholder, or lessor to recover that which has been sold or leased pursuant to a security agreement that contains a repossession clause. A repossession is complete when a licensed recovery agent is in control, custody, and possession of the defined collateral.
Repossession means the recovery of a motor vehicle as defined under s. 320.01(1), a mobile home as defined in s. 320.01(2), a motorboat as defined under s. 327.02, an aircraft as defined in s. 330.27(1), a personal watercraft as defined in s. 327.02, an all-terrain vehicle as defined in s. 316.2074, farm equipment as defined under s. 686.402, or industrial equipment, by an individual who is authorized by the legal owner, lienholder, or lessor to recover, or to collect money payment in lieu of recovery of, that which has been sold or leased under a security agreement that contains a repossession clause. As used in this subsection, the term “industrial equipment” includes, but is not limited to, tractors, road rollers, cranes, forklifts, backhoes, and bulldozers. The term “industrial equipment” also in- cludes other vehicles that are propelled by power other than muscular power and that are used in the manu- facture of goods or used in the provision of services. A repossession is complete when a licensed recovery agent is in control, custody, and possession of such repossessed property. Property that is being repos- sessed shall be considered to be in the control, custody, and possession of a recovery agent if the property being repossessed is secured in preparation for transport from the site of the recovery by means of being attached to or placed on the towing or other transport vehicle or if the property being repossessed is being operated or about to be operated by an employee of the recovery agency.
Examples of Repossession in a sentence
Repossession Warrant Fee We will charge you this fee if we have to instruct an agent to repossess the Goods (for example, due to overdue payments).
Repossession Fee We will charge you this fee if we have to repossess the Goods.
Such costs could include debt collection and repossession fees charged by a third party (Repossession Agent, Legal Provider) which will be debited to the loan for the invoiced amount.
Repossession effected through legal process shall be governed by the laws of the state of Minnesota.
Repossession of security is aimed at recovery of dues and not to deprive the borrower of the property.
More Definitions of Repossession
Repossession means the locating or recovering of collateral by means of an assignment.
Repossession means the recovery of a motor vehicle
Repossession means any action taken or to be taken pursuant to the UCC or other applicable laws in connection with recovery on a Defaulted Receivable (including any Liquidated Receivable), including repossession of the related Financed Vehicle with or without judicial proceedings, sale of such Financed Vehicle at public or private sale, retention of such Financed Vehicle in satisfaction of the Obligor's obligations under such Defaulted Receivable, or a levy on and sheriff's sale of the related Financed Vehicle in enforcement of a judgment on such Defaulted Receivable or by voluntary surrender or otherwise.
Repossession means the recovery of a motor vehicle, manufactured home, motorboat, or other personal property by an individual who is authorized by the legal owner, lien holder, or lessor to recover property, or to collect money payment in lieu of recovery of property, that has been sold or leased pursuant to a security agreement that contains a repossession clause. A repossession pursuant to this chapter does not include the towing of a vehicle at the request of the legal owner or pursuant to another provision of law. A repossession is complete when a licensed recovery agent is in control, custody, and possession of the motor vehicle, manufactured home, motorboat, or other personal property and, when repossessing at the debtor’s premises, has removed the personal property from the premises of the debtor.
Repossession means the recovery of a motor vehicle as defined under s. 320.01(1), a mobile home as defined in s. 320.01(2), a motorboat as defined under s. 327.02, an aircraft as defined in s. 330.27(1), a personal watercraft as defined in s. 327.02, an all-terrain vehicle as defined in s. 316.2074, farm equipment as defined under s. 686.402, or industrial equipment, by an individual who is authorized by the legal owner, lienholder, or lessor to recover, or to collect money payment in lieu of recovery of, that which has been sold or leased under a security agreement that contains a repossession clause. As used in this subsection, the term "industrial equipment" includes, but is not limited to, tractors, road rollers, cranes, forklifts, backhoes, and bulldozers. The term "industrial equipment" also includes other vehicles that are propelled by power other than muscular power and that are used in the manufacture of goods or used in the provision of services. A repossession is complete when a licensed recovery agent is in control, custody, and possession of such repossessed property.
Repossession means the recovery of a motor vehicle as defined under s. 320.01(1), a mobile home as defined in s. 320.01(2), a motorboat as defined under s. 327.02, an aircraft as defined in s. 330.27(1), a personal watercraft as defined in s. 327.02, an all-terrain vehicle as defined in s. 316.2074, farm equipment as defined under
Repossession means the recovery of an aircraft 1-28 that has been sold under a security agreement containing a 1-29 repossession clause authorizing the lender to recover the aircraft 1-30 if the borrower defaults under the agreement.