Alaska Repossession Service

Alaska Repossession Service

Title: Alaska Reclamation Title and License Information for the Department of Motor Vehicles in Alaska 2150 E. Dowling Roadway, Anchorage, AK 99507
Recording: UCC to be brief. Financial institutions need to have liens on car titles.

Recovery: Repossession allowed through judicial process.

Repo Redemption: Once a vehicle has been repossessed they have ten days to redeem it. If a client paid for more than 50% of purchase price or $500 at public auction sale will be held. If not, it can also be sold privately.

Deficiency: Retaking is not barred by an action for balance due; deficiency is collectable as well as foreclosure being admission of judgment promissory notes.

Specific Provisions on Vehicle Repo: In order to be effective against third persons the lien must appear on the title.

Documents Needed for Transfer of Ownership in Repoed Vehicles: The repossession title in debtor’s name or lienholder with certified copy of lien instrument shall pass to bank employee. Certification of registration. Registration fee: $5.00.

Foreclosure Plates: They stay in the repossessed car except personalized plates are removed.