Will I Be Notified Before the Repossession? 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.Bring a valid driver's license and a combination of identification items to prove your identity. Edit, sign, and share az repossession online. No need to install software, just go to DocHub, and sign up instantly and for free. 1) Notice of Default and Acceleration of the debt. 2) Notice of Intent to Repossess. The Arizona Repossession Affidavit form, officially known as form 48-0902, is a crucial document used in the repossession process. Speak with a Phoenix bankruptcy lawyer at Hilltop Law Firm to help prevent repossession of your property. Call (602) 466-9631 now..