Repossession of Property Financing occurs when you buy property (a vehicle, mobile home or furniture) but do not pay the entire sales price at once. This page will provide an overview of Arizona's Repossession Laws and what you should know if you've fallen behind on car payments.Edit, sign, and share az repossession online. No need to install software, just go to DocHub, and sign up instantly and for free. The Arizona Repossession Affidavit form, officially known as form 48-0902, is a crucial document used in the repossession process. I certify that I am the legal owner and a lienholder of record for the vehicle described above, that the vehicle is physically located in. This is what is known as a "repossession. Lenders have a right to self impose terms of the contract. This is what is known as a "repossession. Tonight Whitey is looking to nab a blue Pontiac Grand Am, a car whose owner is weeks behind on payments owed to a Van Buren car dealership.