Repossessed Assets by Bank

• Bank will sign as seller on title
• PS2024 – Affidavit of Repossession/Title Application will need to be completed and notarized by bank. Insurance information does not need to be completed.
• If the business/person who has had the asset repossessed has signed the title as the seller, the bank will sign as the buyer on the front. On the back, the bank will sign as the seller under the Reassignment by licensed dealer only section
• No Lien release is required in this case
• All other aspects of sale are the same.