I certify that I, or the firm, company, or corporation I am authorized to represent, am the legal owner within the meaning of California Vehicle Code. California law permits cars to be repossessed after one late or missed loan payment.Cars may be repossessed after missed insurance payments as well. How do I fill this out? ‌ Removing, Adding, or Changing a Lienholder on My Property. Return of Personal Property: The lienholder is generally required to return any personal property found in the repossessed vehicle to you. The right of repossession belongs to the person or company that holds the title to the vehicle. Usually that's the finance company. He financed the purchase through a bank loan. Filling out this form requires specific vehicle and personal information.