This page will provide an overview of Virginia's Repossession Laws and what you should know if you've fallen behind on car payments. Use this repossession guide to protect your property.Have you borrowed money to buy property (like a car)? Use our library of forms to quickly fill and sign your Virginia Department of Motor Vehicles forms online. 1. REAL PROPERTY: Purchaser agrees to buy and Seller agrees to sell the land and all improvements thereon located in the. If you don't reach an agreement, your lender may demand that you return the car. If you agree to a "voluntary repossession," you might pay less in fees. Repossession agents work on commission. Under Virginia law, lenders don't even have to notify you that you have defaulted on your loan. May a creditor repossess if I catch up all my missed payments?
