Complete this form and bring it with the license plates, if any, to any Motor Vehicles office. The MV-327 form serves as a crucial document for the repossession of a motor vehicle or motorcycle, outlining the steps a repossessor must take.Edit, sign, and share repossession paperwork online. No need to install software, just go to DocHub, and sign up instantly and for free. Edit, sign, and share notice of repossession form online. The lien holder can customize the vehicle repossession form to suit their needs. How to complete the T-16 Form. Completing Form MV 1. Contact the lender to find out how much money you need to pay to "reinstate" the vehicle loan. Contact the lender to find out how much money you need to pay to "reinstate" the vehicle loan.