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The Affidavit of Repossession in Minnesota serves as a crucial document for individuals or entities reclaiming title to a vehicle after default on a secured loan. This form combines both a statement of repossession and a title application, facilitating the legal transition of ownership when a vehicle is repossessed. It requires detailed information, including the vehicle's identification number, plate number, and the names and addresses of both the registered owner and the secured party. The repossessor must affirm that the ownership rights have been lawfully terminated in accordance with the terms outlined in the security agreement. Additionally, the form includes an odometer disclosure to confirm the vehicle's mileage and a damage disclosure statement, which must be accurately completed to avoid liability issues. Completing this form also entails an agreement to indemnify the registrar of motor vehicles against any potential legal claims arising from the title's issuance. It's important for the repossessing party to ensure they follow specific instructions, as certain fees may apply, and different steps may be necessary depending on their ownership status or whether they hold an existing title. By adhering to these guidelines, the process of securing title to a repossessed vehicle remains streamlined and compliant with state regulations.
Affidavit Of Repossession Minnesota Example
MINNESOTA DEPARTMENT OF PUBLIC SAFETY |
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DRIVER AND VEHICLE SERVICES |
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445 Minnesota Street, Suite 187
Saint Paul, MN
Web: dvs.dps.mn.gov
AFFIDAVIT OF REPOSSESSION / TITLE APPLICATION
Please read the instructions on the reverse side before completing this form.
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VEHICLE IDENTIFICATION NUMBER |
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FOR CENTRAL OFFICE USE ONLY |
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PLATE NUMBER |
YEAR |
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MAKE |
TYPE |
MODEL |
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NAME OF REGISTERED OWNER(S) |
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TITLE NUMBER |
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STREET ADDRESS |
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CITY |
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STATE |
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ZIP CODE |
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I, the undersigned, on oath duly sworn, depose and say that, |
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NAME OF SECURED PARTY |
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DATE OF REPOSSESSION |
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STREET ADDRESS |
CITY |
COUNTY CODE |
STATE |
ZIP CODE |
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AUTO INSURANCE COMPANY |
POLICY NUMBER |
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EXP. DATE |
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Is the owner of the vehicle described above. The interest of the owner was lawfully terminated and disposition made pursuant to the terms of the security agreement. This application for a Certificate of Title is based on the repossession of this motor vehicle.
I further state that in consideration of the issuance of the certificate of title applied for, we hereby agree to indemnify the registrar of motor vehicles, and all persons acting for him from any and all liability which may be incurred by the issuance of such certificate and agree, at our own expense, to defend any suit which may be brought against the registrar or any person acting for him as a result of Issuing such certificate. I hereby certify I have taken all possible steps to secure the title to the above described vehicle.
ODOMETER DISCLOSURE STATEMENT
I (we) state that the odometer now reads
(no tenths) Miles
And to the best of my knowledge that it reflects the actual mileage of the vehicle described herein unless one of the following statements is checked.
I hereby certify to the best of my knowledge the odometer reading reflects the amount of mileage in excess of its mechanical limits.
I hereby certify that the odometer reading is not the actual mileage.
WARNING: Odometer discrepancy if box (1) or (2) is checked.
DAMAGE DISCLOSURE STATEMENT
To the best of my knowledge this vehicle:
Has 
Has Not (select one)
sustained damage in excess of 80% actual cash value
I declare this tax |
TITLE FEE |
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exemption code: |
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If needed, ID |
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number: |
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PSV FEE |
FILING FEE
TOTAL TAX DUE
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Signature of Secured Party |
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SUBSCRIBED AND SWORN BEFORE ME THIS |
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DAY OF |
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, 20 |
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MY COMMISSION EXPIRES |
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NOTARY PUBLIC SIGNATURE |
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NOTARY STAMP |
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Affidavit of Repossession/Title Application
INSTRUCTIONS
Repossession/Title Application
1.When the repossessing party chooses to title the vehicle in their name, this form also serves as their application for title.
If the repossessing party has the Minnesota title in their possession, they do not need to apply for a title in their name. If the repossessing party is a private individual, please include their driver’s license number and date of birth.
2.The following fees are due when the repossessing party titles the vehicle in their name: Title, Public Safety Vehicle (PSV), and Filing. If a private party is repossessing this vehicle, MN sales tax is due if the private party was not the previous owner. To determine the amount due, visit dvs.dps.mn.gov and select Fees from the top menu or call (651)
3.A secured party that has the certificate of title but elects not to title the vehicle in their name must complete and submit a dealer purchase receipt (PS2009).
4.All forms and fees may be submitted to your local deputy registrar office or by mail to:
MINNESOTA DEPARTMENT OF PUBLIC SAFETY DRIVER AND VEHICLE SERVICES
445 MINNESOTA STREET, SUITE 187
ST. PAUL, MINNESOTA
For a list of office locations, visit dvs.dps.mn.gov or call (651)
File Breakdown
| Fact Name | Details |
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| Governing Law | This form is governed by the Minnesota Statutes, Section 168A. The law outlines the process and requirements for vehicle repossession and title application. |
| Purpose of the Form | The Affidavit of Repossession serves as both an affidavit and a request for a new vehicle title following the repossession of the vehicle. |
| Requirements for Completion | Individuals must provide vehicle identification details, the secured party’s information, and odometer readings. Additional disclosures about vehicle damage may also be required. |
| Fees Associated | When filing the application, fees for title, public safety vehicle, and filing are applicable. Minnesota sales tax may also apply if the repossessing party is a private individual. |
| Submission Details | The form can be submitted to a local deputy registrar office or mailed to the Minnesota Department of Public Safety at their Saint Paul address for processing. |
Guide to Using Affidavit Of Repossession Minnesota
After completing the Affidavit of Repossession form, the next steps involve submitting it to the appropriate authorities along with any required fees. It is essential to ensure all provided information is accurate to avoid delays in processing.
- Obtain the Affidavit of Repossession form, which can be printed from the Minnesota Department of Public Safety website or collected from a local office.
- Fill in the vehicle identification number (VIN) in the designated section at the top of the form.
- Complete the plate number, year, make, type, and model of the vehicle in the next set of fields.
- Provide the name(s) of the registered owner(s) along with their street address, city, state, and zip code.
- In the section for the secured party, state your name and provide the date of repossession.
- Enter the street address, city, county code, state, and zip code for the secured party.
- Include the auto insurance company name, policy number, and expiration date as necessary.
- Complete the odometer disclosure statement by stating the current odometer reading in miles, choosing the appropriate options regarding the accuracy of the reading.
- Indicate whether the vehicle has sustained damage exceeding 80% of its actual cash value by selecting the corresponding option.
- If applicable, include any tax exemption codes or ID numbers in the space provided.
- Calculate the total fees due for the title application, including title fee, PSV fee, and filing fee, and write that total on the form.
- Sign the form as the secured party and print the name beneath the signature.
- Find a notary public to witness your signature, and have them complete their section of the form, which includes their signature and stamp.
Once the form is completed and notarized, submit it along with any associated fees to your local deputy registrar office or by mail to the specified Minnesota Department of Public Safety address. Ensure you keep a copy of the submitted form for your records.
Get Answers on Affidavit Of Repossession Minnesota
What is the purpose of the Affidavit of Repossession Minnesota form?
The Affidavit of Repossession Minnesota form is used to document the repossession of a motor vehicle. This form allows the repossessing party to apply for a new title in their name if they have taken possession of the vehicle in accordance with a security agreement. By completing this form, the repossessing party asserts that the owner’s rights to the vehicle have been lawfully terminated.
Who needs to complete this form?
Typically, the secured party—often a lender or car dealership—will complete this form when they repossess a vehicle. If the repossessing party wishes to title the vehicle in their name, this form serves as the title application. Individual private parties also need to complete the form, and they must include their driver’s license number and date of birth.
What fees are associated with the Affidavit of Repossession?
When titling a vehicle in their name, the repossessing party must pay several fees. These may include:
- Title Fee
- Public Safety Vehicle (PSV) Fee
- Filing Fee
If the repossessing party is a private individual who was not the previous owner, they may also be subject to Minnesota sales tax. To confirm the exact amounts, refer to the Minnesota Department of Public Safety website or contact them directly.
Where should the completed form be submitted?
The completed Affidavit of Repossession form, along with any applicable fees, can be submitted in one of two ways:
- In person to the local deputy registrar office.
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By mail to the Minnesota Department of Public Safety at the following address:
DRIVER AND VEHICLE SERVICES
445 Minnesota Street, Suite 187
St. Paul, Minnesota 55101-5187
For assistance in locating an office or for further inquiries, visit the Minnesota Department of Public Safety website or call their office directly.
Common mistakes
Filling out the Affidavit of Repossession in Minnesota can be straightforward, but people often make mistakes that may delay the process. Understanding these common pitfalls can save time and frustration.
One significant error is failing to include the correct Vehicle Identification Number (VIN). Without a valid VIN, your application may be rejected outright. Double-check that this number matches the one on the vehicle’s title.
Another mistake is incomplete owner information. Ensure that you have the correct names of all registered owners. Leaving any owner's name off the form could complicate the repossession process.
Many people forget to sign the document. The signature of the secured party is crucial for validation. Without it, the application may be considered invalid.
Do not overlook odometer disclosure. Accurately reporting the odometer reading is vital. Failing to provide this information or lying about it can lead to severe legal consequences.
Another common error is not indicating whether the vehicle has sustained damage. The damage disclosure statement must be correctly filled out to avoid misunderstandings and allegations of fraud.
Omitting the necessary fees can lead to delays. Make sure all applicable fees are included with the application. Consult the website or call for guidance if you're unsure of the amounts.
Moreover, people sometimes submit their applications to the wrong office. Ensure you send your form to the designated address for faster processing. Check the instructions to confirm the correct location.
In some cases, individuals forget to provide insurance information. This is critical as it demonstrates that the vehicle is insurable post-repossession. Without this, your application may face scrutiny.
Do not neglect to certify the form properly. Misstatements in your declaration can lead to complications later on. Be truthful and thorough in your disclosures.
Lastly, failing to attach a notary’s signature can cause your application to be rejected. The document must be notarized for it to be legally binding.
Stay vigilant and double-check your form before submission. By avoiding these mistakes, you can ensure a smoother repossession process.
Documents used along the form
When navigating the repossession process in Minnesota, it’s important to have all the necessary documents ready. Along with the Affidavit of Repossession Minnesota form, several other forms and documents may be needed. Each plays a vital role in ensuring that the repossession is handled correctly and legally. Here’s a list of essential documents to consider:
- Certificate of Title: This document proves ownership of the vehicle. If you have the title, it simplifies the process of transferring ownership after repossession.
- Dealer Purchase Receipt (PS2009): Required if you choose not to title the repossessed vehicle in your name but still need to complete the repossession process.
- Odometer Disclosure Statement: A declaration of the vehicle's mileage. This statement helps ensure transparency regarding the condition of the vehicle upon repossession.
- Damage Disclosure Statement: It assesses whether the vehicle has sustained damage exceeding 80% of its actual cash value. This form protects all parties involved by clarifying the vehicle's condition.
- Security Agreement: This legal document outlines the terms and conditions of the loan agreement associated with the vehicle being repossessed.
- Payment History Statement: It details the amount of payments made by the borrower. This can be useful in demonstrating the borrower’s failure to comply with the loan terms.
- Notarized Affidavit: Sometimes used to solidify the repossession claim, this document may need to be notarized to verify authenticity.
- Insurance Coverage Verification: A document proving that the vehicle is insured can be critical before repossession occurs to protect against liability.
- Local Deputy Registrar Instructions: Guidance from the local office, detailing filing procedures and any specific requirements, can be crucial for a smooth process.
By gathering these forms and documents, you will facilitate a more effective repossession process. Ensure that everything is completed accurately to avoid delays or complications. Being prepared is key.
Similar forms
The Affidavit Of Repossession form in Minnesota shares some similarities with various other legal documents used in similar contexts. Here’s a list of ten documents that are comparable to the Affidavit Of Repossession, detailing their relevance:
- Title Application Form: This document is used when someone requests a certificate of title for a vehicle. Like the Affidavit Of Repossession, it collects information about the vehicle and the owner.
- Bill of Sale: A Bill of Sale acts as proof of the transfer of ownership of a vehicle. This document often contains similar details about the vehicle and the parties involved, much like the affidavit.
- Loan Agreement: This document outlines the terms of a loan used to purchase a vehicle. It will often reference the security interest in the vehicle, which is a key aspect in a repossession affidavit.
- Security Agreement: When a vehicle is financed, this document defines the lender's rights to the vehicle. This is pivotal in repossession scenarios, mirroring the legal implications in the Affidavit Of Repossession.
- Odometer Disclosure Statement: Similar to the one included in the affidavit, this document verifies the accuracy of a vehicle's mileage during transfer. It’s frequently required for legal clarity in vehicle transactions.
- Power of Attorney: This document allows a person to act on behalf of another in legal matters, including repossession. It may be used in conjunction with an affidavit to execute repossession rights.
- Release of Liability: After a vehicle is sold or repossessed, this document releases the previous owner from future liability regarding the vehicle. It serves a protective purpose similar to the indemnity clause in an affidavit.
- Notice of Repossession: This document is sent to inform a borrower that their vehicle has been repossessed. It serves to communicate the repossession intent, resembling the legal clarity an affidavit provides.
- Salvage Title Application: In cases where a vehicle is severely damaged, this document requests a salvage title, identifying the vehicle status. It relates to repossession if a vehicle is declared unsalvageable after the process.
- Insurance Claim Form: If a vehicle is repossessed after an accident, this form facilitates the filing of an insurance claim. The details required can mirror those in the Affidavit of Repossession regarding vehicle information.
Dos and Don'ts
When filling out the Affidavit of Repossession Minnesota form, it is essential to approach the process thoughtfully. Here is a list of things you should and should not do:
- Do read the instructions carefully before completing the form.
- Do provide accurate and complete information regarding the vehicle.
- Do ensure that the odometer reading is correct and reflect any discrepancies if applicable.
- Do include your driver’s license number and date of birth if you are a private individual repossessing the vehicle.
- Don't omit any required fees when submitting the application for title.
- Don't forget to sign and date the affidavit appropriately.
- Don't leave sections of the form blank; completeness is key.
- Don't submit the form without making a copy for your records.
Misconceptions
Misconceptions often arise around the Affidavit of Repossession Minnesota form. Below are ten common misunderstandings, clarified for better understanding.
- Anyone can file an affidavit without proof. Many believe that anyone can submit this form without any supporting documentation. In reality, proper evidence of the repossession is essential.
- It only applies to cars. Some think this affidavit is limited to automobiles. In fact, it is applicable to any motor vehicle, including motorcycles and trucks.
- The secured party must have the title in hand. There is a misconception that a secured party must possess the vehicle's title before submitting the affidavit. While having the title facilitates the process, it is not always a requirement.
- Fees are optional. Some individuals believe that fees associated with filing the affidavit are optional. On the contrary, specific fees for titling the vehicle must be paid.
- A notary is not needed. It is commonly thought that a notary's signature is unnecessary. However, a notary is indeed required to validate the affidavit before submission.
- The form can be self-completed without guidance. Some assume they can fill out the form without any help. It's advisable to read all instructions thoroughly or seek assistance to avoid mistakes.
- All vehicles under repossession qualify. Many mistakenly think any vehicle under repossession qualifies for the process. However, the repossession must be conducted following the terms outlined in the security agreement.
- It does not require an insurance policy. Some believe insurance details are irrelevant. Yet, the affidavit requests the insurance policy number, indicating its importance.
- This is a quick process. There is a misconception about the speed of processing. While submitting can be swift, the overall process may take time, especially if further verification is needed.
- Once submitted, the process cannot be challenged. Some people believe that once the affidavit is submitted, it cannot be contested. However, individuals can appeal or challenge the process if they have legitimate grounds.
Key takeaways
When dealing with the Affidavit of Repossession form in Minnesota, it's important to understand the key points that will guide you through the process. Here’s what you need to know:
- Purpose of the Form: This affidavit is primarily for the repossessing party to apply for a certificate of title after legally obtaining possession of a vehicle.
- Understanding Fees: Fees for title, Public Safety Vehicle (PSV), and filing must be paid when titling the vehicle in your name. Visit the official website for specific amounts.
- Including Personal Information: If the repossessing party is a private individual, ensure that your driver’s license number and date of birth are included.
- Handling Existing Titles: If you already have the certificate of title, you do not need to apply for a new title in your name.
- Odometer Disclosure: It's essential to accurately report the odometer reading and to check the relevant statements that apply to potential discrepancies.
- Damage Disclosure: You must indicate whether the vehicle has sustained damage exceeding 80% of its actual cash value. This affects how the vehicle is titled.
- Submission of Forms: Submit the completed form and fees to your local deputy registrar office, or you can mail them to the Minnesota Department of Public Safety.
- Legal Indemnity: By filling out this form, you agree to indemnify the registrar of motor vehicles from any liabilities resulting from the issuance of the title.
- Keep Copies: Always retain copies of the completed affidavit and any correspondence or documentation related to the repossession.
Understanding these takeaways will help streamline the process of filling out and utilizing the Affidavit of Repossession in Minnesota. Take your time, fill it out carefully, and ensure you meet all requirements along the way.