Repossession Affidavit. Lienholders use this form to report repossession of a vehicle or vessel.The lender can seize your vehicle as soon as you default on your loan. The contract you and the lender de ined will de ine what a default is. How to fill out the Affidavit of Repossession for Motor Vehicle Title? Form for lienholders to report repossession of a vehicle or vessel. If you need a copy of the form, there are 2 ways to get it: Pick one up at any vehicle licensing office. View the Motor Vehicle Repossession Services Agreement in our extensive collection of PDFs and resources. The Td 420 042 form, known as the Repossession Affidavit, serves a crucial role in the process of reporting the repossession of a vehicle or vessel. Each applicant is required to fill up a separate a form and affix their photograph.