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 right of repossession online. No need to install software, just go to DocHub, and sign up instantly and for free. A repossessed vehicle is one whose owner has defaulted on a security agreement, ie, failed to make payments on a financed or leased vehicle. It doesn't concern you. 1. Enter the lienholder's name and address. Personal property in a repossessed automobile. The repo company saw the van parked out front of a grocery store and "hooked it.