Repossession Affidavit. Lienholders use this form to report repossession of a vehicle or vessel.I certify that I, or the firm, company, or corporation I am authorized to represent, am the legal owner within the meaning of California Vehicle Code. 1. Enter the lienholder's name and address. Use the Repossession Affidavit template to create a document without hassle and in minutes. Repo's Allowed: After 20 day "Right to Cure" letter from lienholder to debtor, repossession allowed without committing a breach of peace. Under California law, your lender can repossess your vehicle the instant you default on your loan terms. Vehicle Repossession. This is what is known as a "repossession. As already mentioned, in your finance agreement, it will specify a governing law.
