Those that live in the state of Kentucky should note that we have compiled a repo resource guide, with all relevant rules and regulations pertaining about property recovery in the state.
You may wish to know that for a repo to happen in Kentucky, the security interests need to be shown on title of the borrower, whereas the lien holder keeps the lien statement. Also, plates are to remain with the vehicle in dispute. And, property recovery is only allowed as long as there is not a disturbance of the peace and the recovering entity has proper operating authority. For license registration, you can contact the Kentucky Division of Motor Licensing at (502) 594-5301. Additionally, title and an affidavit of repossession are needed for liquidation.
MLS takes pride in providing clients in Kentucky with repo services on real estate and vehicles as well as other items. We will surely process your equipment from the initial consultation to eventual re-marketing of you rproperty. Furthermore, we will gladly handle the storage, inspection and appraisal for selling price for your equipment.
For more, you can also give us a call today at (630) 358-9434.
SECURITY INTERESTS: Shown on title, Title mailed to & held by debtor. Lien holder holds title lien statement.
LICENSE REGISTRATION: Kentucky Division of Motor Licensing, State Office Building, Room 203, Frankfort, Kentucky 40622. Tel: (502) 564-5301.
RECOVERY REQUIREMENT: As per UCC, Kentucky repossession allowed without committing a breach of the peace.