The contracts that you generate will be either a pre computed contract or a simple interest contract. I have made my payment to release my car.Can the repo company hold my car because it still doesn't have insurance on it? All forms documenting the repossession, subsequent sale, and application for a duplicate title may be submitted to the MVC in one package. 1. Gather information of the recent owner from records. When a vehicle or vessel is sold from one citizen or business to another in Kentucky, the title must be transferred to the new owner within 15 days. How to fill out the Certificate of Repossession Instructions Form? Mortgage Insurance Case Number: C. Note: This form is furnished to give you a statement of actual settlement costs. Contractor agrees to comply with all federal.