Maine Secretary of State Bureau of Motor Vehicles - BMV Forms and Applications · Maine state form
MVT-5 Affidavit of Repossession
MVT-5 is a repossession affidavit for lending institutions to document a vehicle repossession. The form must be notarized and attached to the vehicle’s Certificate of Title.
- What this form is
- The MVT-5 Affidavit of Repossession is for use by lending institutions when a vehicle is repossessed. An authorized representative certifies the lien and repossession details, then signs under oath before a notary or attorney. The form states that the lien must be released on the title and that this affidavit cannot transfer ownership. It must be attached to the Certificate of Title and submitted with the title application.
- Who needs it
- A lending institution repossessing a vehicle needs an authorized representative to complete and sign this affidavit for the title transaction.
- Why it needs a notary
- The form must be notarized, with the signer swearing that the statements are true. This can be done online with a commissioned online notary.
- How to submit it
- Staple the completed affidavit to the Certificate of Title and give it to the purchaser. The affidavit and properly released and assigned title must be surrendered to the Secretary of State with an application for a new title.
Questions
Who uses the MVT-5 Affidavit of Repossession?
The form states that it is for lending institutions when a vehicle is repossessed. An authorized representative of the lending institution completes and signs it.
Does the MVT-5 need to be notarized?
Yes. The form says it must be notarized and requires the signer to swear under oath that the statements are true. A commissioned online notary can notarize it online.
How is the MVT-5 submitted?
Staple it to the Certificate of Title and give it to the purchaser. The affidavit and properly released and assigned title must be surrendered with an application for a new Certificate of Title.