New York Affirmation of Repossession and Bill of Sale is a legal document used in New York State to transfer ownership of personal property from one party to another. The Affirmation of Repossession is issued by the party who is mandated to execute the repossession, typically a creditor or a finance company, and the Bill of Sale is issued by the party who is transferring ownership of the personal property. There are two types of New York Affirmation of Repossession and Bill of Sale: one for motor vehicles and one for non-motor vehicles. The Affirmation of Repossession for motor vehicles transfers ownership from the creditor or finance company to the repossessing agency, and the Bill of Sale for motor vehicles transfers ownership from the repossessing agency to the purchaser. The Affirmation of Repossession for non-motor vehicles transfers ownership from the creditor or finance company to the repossessing agency, and the Bill of Sale for non-motor vehicles transfers ownership from the repossessing agency to the purchaser. Each document must include the legal name and address of both parties, a description of the item being repossessed, the date of the repossession, the date of transfer of ownership, the amount of money paid for the item, and any other pertinent information. Both documents must be signed and dated by the parties involved in order to be legally binding.
New York Affirmation of Repossession and Bill of Sale
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