Affidavit of Repossession
Vessel affidavit of repossession form with examples and instructions.
The vessel affidavit of repossession is designed for use in a non-judicial foreclosure pursuant to a delinquent preferred mortgage of a USCG documented vessel.
Usage Context
The vessel affidavit of repossession may be utilized for documented vessel recording purposes. It is not intended for state level non-judicial foreclosures as most jurisdictions have their own forms and procedures.
Form Example and Conversion
Examples of the vessel affidavit of repossession form are available in Adobe PDF format from the Referrals for this page. They can be easily converted into your favorite word processing application for modification and editing purposes. If your system does not already have this capability, there are a number of free or subscription internet services available that can provide such an accommodation.
Citations and Instructions
Opening Declaration - Insert the name of the mortgagee or the
person signing on behalf of the mortgagee.
Paragraph 1. - If signing on behalf of a mortgagee, insert the
capacity in which signed and the mortgagee's name followed by "
mortgagee".
Paragraph 2. - Insert the underlying mortgage information.
Paragraph 4. - Insert the date upon which the mortgagor
entered default.
Paragraph 5. - Insert the date upon which the mortgagee
took physical possession of the vessel.
Paragraph 6. - Insert the State jurisdiction under which
the repossession is being implemented.
Paragraph 7. - Insert the name of the purchaser and the
date on which the offer was accepted.
Paragraph 9. - Cite the specific state statutes under
which the repossession was implemented.
Signature Date Line - Insert the date on which the affidavit
was executed.
Signature Line - Insert the name of the party signing
and capacity.
Acknowledgement - All signatures must be acknowledged by a
notary public. The form contains a default acknowledgement which is a
simplified generic version. If this does not fulfill your particular
requirements, a separate acknowledgement can be attached. The
acknowledgement date can not precede the respective signature date. Make
sure the notary's commission has not expired relative to the
notarization date. If notarized foreign, it must be performed by the
U.S. Consulate or the notarization must be apostillized by a government
which is a member of the Hague convention.
Signature Requirements
The form must be signed by the Mortgagee or authorized representative.
Conclusion
Acceptance of this form is subject to approval and may have legal implications. You should check with the appropriate agency or an attorney about any such concerns.
References and Referrals
Comments - Suggestions - Corrections