Repo Question 2?
who can decipher this:
After having given a bill of sale to secure debt or other security instrument to an motor vehicle, it shall be unlawful for any person to sell or otherwise dispose of the motor vehicle or to cause the motor vehicle to be moved outside of the state before the payment of the debt secured by the security instrument if the sale, disposition, or removal is without the consent of and with the intent to defraud the holder of the security instrument and if loss is thereby sustained by the holder of the security instrument.
This refers to a previous question asked about an out of state repo titled CAN YOU GO TO JAIL FOR HAVING A CAR REPO'D
no the car isnt stolen and yes the bank knows where it is
no you can t go to jail ,,as long as you have legal papers showing why it was re-po,d and you have proof of the amount owed on it,,and you may also need a order slip from the person who hired you to re-po it ,,i used to repo ,,and never had any of this stuff,,but then in Tennessee the laws are different,,and every state has a different law on it,,i have never heard of anyone going to jail for it,,the paper you read off is just a legal binder,,used by many loan offices and banks,,i hope this helps
