Regulation .07 Vehicles Being Titled Because of Repossessions.

An applicant for a certificate of title for a vehicle which has been repossessed shall provide the Administration with:

(1)

A Notice of Security Interest Filing form;

(2)

An out-of-State title or other ownership document acceptable to the Administration;

(3)

A certification of repossession;

(4)

An assignment of ownership or bill of sale;

(5)

An odometer disclosure certification as required by COMAR 11.13.06;

(6)

A condition report; and

(7)

An application for a certificate of title.

The Administration shall refuse to issue a certificate of title if the:

(1)

Required documents are not furnished or information is incomplete;

(2)

Lien holder was a dealer or someone other than a bona fide lending institution and a clear copy of the lien contract is not furnished;

(3)

Lien holder was not holding first position and a previous lien holder has not been released;

(4)

Vehicle was not titled in the debtor's name and the lien holder cannot furnish a copy of the contract;

(5)

Vehicle is titled in Maryland, but the security interest has not been perfected and the applicant cannot furnish a copy of a contract;

(6)

Applicant is not the secured party shown on the title and cannot furnish an assignment of lien;

(7)

Applicant is a dealer but the lien contract does not state that the dealer has full recourse for the secured party named in the contract;

(8)

Vehicle was titled out of State and the forms required by that state for repossession have not been furnished; or

(9)

Lien contract does not contain:

(a)

The signature of all vehicle owners;

(b)

A full description of the vehicle; and

(c)

A notation of the security interest.