Lienholders use this form to report repossession of a vehicle or vessel. You have the right to redeem the repossessed item up until it is sold or within 21 days of receiving notice that the creditor is going to keep it.Signing this form, and tendering any coverage charge payment, does not bind the insurance company to complete the insurance. Use the Repossession Affidavit template to create a document without hassle and in minutes. All other states must have a repo title in the client's name. -In recognition of the New Year's Day holiday, all DC DMV locations will be closed on Wednesday, January 1, 2025. If you miss a payment or default on your contract in any way, such as letting your insurance coverage lapse, your creditor has the right to repossess your car. Seek bond insurance. You must send in the completed form to the insurance company as soon as possible and tell us as soon as you do. Mariner Obtains Beneficiary Names Under False Pretenses. 143.