Alaska Automobiles and Repossession

<body> <p>If your browser supports frames, select show in frame below.<br> You have reached a page at LAWDOG Center® normally seen <br> only by non-frames-capable browsers.</p> <div align="center"><center><table border="0" width="500" bgcolor="#FFFFFF"> <tr> <td width="463" height="44"><strong><a Name="Links"></a>| <small><a href="#Title Registration">Title Registration</a> || <a href="#Forms and Contact">Forms and Contact</a> ||  <a href="#Consumer Credit">Consumer Credit</a> || <a href="#Dealer Licensing">Dealer Licensing</a> || <a href="#Federal Rules">Federal Rules </a>|| <a href="#Other">Other</a></small> | </strong></td> </tr> <tr> <td width="463" height="57"><table border="1" width="100%" bgcolor="#000068" height="40"> <tr> <td width="100%"><big><strong><font color="#FFFFFF">Automotive LAWDOG Alaska</font></strong></big></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="22"><img src="kelley2.gif" alt="kelley2.gif (9886 bytes)" align="left" WIDTH="430" HEIGHT="60"></td> </tr> <tr> <td width="463" height="22"><div align="center"><center><table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Title Registration"><font color="#FFFFFF"><strong>Title Registration</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </center></div></td> </tr> <tr> <td width="463" height="22"><a href="http://www.legis.state.ak.us/folhome.htm">Alaska Statutes</a> | <a href="http://www.touchngo.com/lglcntr/akstats/statutes.htm">Alaska Statutes</a> from <a href="http://www.alaska.net/~norcom">Norcom</a></td> </tr> <tr> <td width="463" height="22">Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section302.htm">45.09.302</a>, a portion of the Uniform Commercial Code, provides that filing under Alaska Statutes Title 28 Motor Vehicles is required to perfect a security interest involving a motor vehicle required to be registered.</td> </tr> <tr> <td width="463" height="22"><font color="#ff0000"><strong>Vehicles Subject to Registration<small> </small></strong></font>All vehicles driven, moved, or parked upon a highway or other public parking place in the state of Alaska must be registered except certain farm equipment, vehicles with dealer's plate or temporary permit, other exceptions. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section011.htm">28.10.011</a> </td> </tr> <tr> <td width="463" height="22"><strong><font color="#ff0000">New Owner Must Apply For Registration and Title.</font></strong> With certain exceptions, a new owner must, within 30 days, apply for a new title, and register the vehicle. Application must be accompanied by any required registration fees and taxes, transfer of title and lien fees, and by the previous certificates of title and registration, if any. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section321.htm">28.10.321</a></td> </tr> <tr> <td width="463" height="22"><strong><font color="#ff0000">Motor Vehicle Lien or Encumbrance</font></strong> A lien or other encumbrance on a vehicle may be filed by delivering to the department certificate of origin or existing title, application for new title, signed by registered owner, containing name and address of any lienholder, date of lienholder's interest,  filing fees, and other documents required by department. If approved, person holding lien receives new certificate of title which names owner and indicates lien. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section381.htm">28.10.381</a></td> </tr> <tr> <td width="463" height="22"><font color="#ff0000"><strong>Date of Constructive Notice of Motor Vehicle Lien</strong></font> If the required lien documents are received and filed in the central office of department within 10 days after the date that documents were executed, constructive notice dates from time of execution of documents. Otherwise, notice dates from time filed with department, shown by endorsement on documents. This filing is exclusive method of constructive notice of lien on a registered vehicle, except a lien which depends upon possession. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section391.htm">28.10.391</a></td> </tr> <tr> <td width="463" height="22"><font color="#FF0000"><strong>Biennial Registration </strong></font>Since 1997, all vehicles are registered for two-year periods. Transferee pays for expired period of registration, even if previous owner permitted registration to expire. The Division of Motor Vehicles collects a Municipal Vehicle Registration Tax (MVRT) for electing municipalities, with rates which vary by location. Certain motor vehicles in Municipality of Anchorage and Fairbanks North Star Borough must have inspection for carbon monoxide emission prior to registration. More information from <a href="http://www.state.ak.us/dmv/dmvhome.htm">Division of Motor Vehicles</a></td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="33"><table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Forms and Contact"><font color="#FFFFFF"><strong>Forms and Contact</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22">The <a href="http://www.state.ak.us/dmv/dmvhome.htm">Division of Motor Vehicles</a><br> 5700 E. Tudor Rd.<br> Anchorage, AK 99507<br> Voice: (907) 269-5590<br> Fax: (907) 333-8615<p><font face="ARIAL" size="2"><br> </font></td> </tr> <tr> <td width="463" height="55"><strong><a href="http://www.state.ak.us/dmv/forms/forms.htm">Forms</a> <a href="http://www.state.ak.us/dmv/general/mvtitle.htm">Vehicle Title Information</a> <a href="http://www.state.ak.us/dmv/general/rfeetax.htm">Fees and Taxes</a></strong><table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Consumer Credit"><font color="#FFFFFF"><strong>Consumer Credit</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22"><a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title06/Chapter20.htm">Chapter 20 Alaska Small Loans Act</a></td> </tr> <tr> <td width="463" height="22"><h2><small><small><small>Also See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title45/Chapter12/Section106.htm">45.12.106</a>. Limitation On Power</small></small> <small><small>of Parties to Consumer Lease to Choose Applicable Law</small></small> </small></h2> </td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="55"><table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Dealer Licensing"><font color="#FFFFFF"><strong>Dealer Licensing</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="22">A dealer in motor vehicles, trailers, or semi-trailers must register biennially with the <a href="http://www.state.ak.us/local/akpages/ADMIN/home.htm">Department of Administration</a>.  TheDepartment of Administration examines and may  investigate the information. If the department is satisfied, and the fees have been paid and bond filed, the department assigns a distinctive registration number to the dealer. A dealer is registered when department assigns a registration number. </td> </tr> <tr> <td width="463" height="22">See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title08/Chapter66.htm">Chapter 66</a>. Motor Vehicle Dealers and Buyers' Agents</td> </tr> <tr> <td width="463" height="55"> <table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Federal Rules"><font color="#FFFFFF"><strong>Federal Rules</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="21">Federal law requires that seller and buyer certify the odometer reading of vehicle less than ten years old.</td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="55"> <table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Other"><font color="#FFFFFF"><strong>Other</strong></font></a></td> <td width="50%"><font color="#FFFFFF"><strong><a href="#Links">Top</a></strong></font></td> </tr> </table> </td> </tr> <tr> <td width="463" height="22"></td> </tr> <tr> <td width="463" height="19"><font color="#ff0000"><strong><small>Copyright © 1998 by LAWDOG.COM Publishing, Inc.</small></strong></font></td> </tr> <tr> <td width="463" height="48"><table border="0" width="100%"> <tr> <td width="50%"><img SRC="nudocr8.gif" WIDTH="80" HEIGHT="60" alt="ldsm1.gif (2407 bytes)"> </td> <td width="50%"><img src="dsclm5.gif" alt="dsclm5.gif (3069 bytes)" WIDTH="250" HEIGHT="40"></td> </tr> </table> </td> </tr> <tr> <td width="463" height="24"><div align="center"><center><table> <tr> <td width="100%"><p align="center"><font face="Arial, Helvetica, sans-serif" size="-1"><a href="../../legal/crta249.htm" target="_top">terms of use</a> | <a href="../../index.htm" target="_top">lawdog center®</a> | <a href="st1.htm" target="_top">state center</a> | <a href="mailto:support@lawdog.com">e-mail</a> | <a href="sta1.htm" target="_parent">view in frame</a></font></td> </tr> </table> </center></div></td> </tr> </table> </center></div><div align="center"><center><table border="0" width="75%"> <tr> <td width="100%"><small><a Name="Links"></a>| <a href="#Perfection of Lien"><b>Perfection</b></a> || <a href="#Possession and Sale"><b>Possession and Sale</b></a> || <a href="#New Title and Plates"><b>New Title<br> and Plates</b></a> || <a href="#Other Issues"><strong>Other</strong> <strong>Issues</strong></a> || <strong><a href="http://www.kbb.com/">Kelley Blue Book</a></strong> | </small></td> </tr> <tr> <td width="100%"></td> </tr> <tr> <td width="100%"><table border="1" width="100%" bgcolor="#000068" height="40"> <tr> <td width="100%"><big><strong><font color="#FFFFFF">LAWDOG Alaska Repossession</font></strong></big></td> </tr> </table> </td> </tr> <tr> <td width="100%"> <table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Perfection of Lien"><font color="#FFFFFF"><b>Perfection of Lien</b></font></a></td> <td width="50%"><a href="#Links"><strong>Top</strong></a></td> </tr> </table> </td> </tr> <tr> <td width="100%"><strong><a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section302.htm">Alaska Statutes 45.09.302</a></strong>, a portion of the Uniform Commercial Code, provides that filing under Alaska Statutes Title 28 Motor Vehicles is required to perfect a security interest involving a motor vehicle required to be registered.</td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Vehicles Subject to Registration<small> </small></strong></font>All vehicles driven, moved, or parked upon a highway or other public parking place in the state of Alaska must be registered except certain farm equipment, vehicles with dealer's plate or temporary permit, other exceptions. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section011.htm">28.10.011</a> </td> </tr> <tr> <td width="100%"><strong><font color="#FF0000">New Owner Must Apply For Registration and Title.</font></strong> With certain exceptions, a new owner must, within 30 days, apply for new title, and register the vehicle. Application must be accompanied by any required registration fees and taxes, transfer of title and lien fees, and by the previous certificates of title and registration, if any. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section321.htm">28.10.321</a></td> </tr> <tr> <td width="100%"><strong><font color="#FF0000">Motor Vehicle Lien or Encumbrance</font></strong> A lien or other encumbrance on a vehicle may be filed by delivering to the department certificate of origin or existing title, application for a new title, signed by registered owner and containing the name and address of any lienholder and the date of the lienholder's interest,  filing fees, and other documents required by the department. If approved, the person holding lien receives new certificate of title which names owner and indicates the lien. See Alaska Statutes  <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section381.htm">28.10.381</a></td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Date of Constructive Notice of Motor Vehicle Lien</strong></font> If the required lien documents (referred to in Alaska Statutes 28.10.371 - 28.10.401) are received and filed in the central office of the department within 10 days after the date that the documents were executed, the constructive notice dates from the time of the execution of the documents. Otherwise, this notice dates from time filed with the department as shown in the endorsement on documents. This filing is exclusive method of constructive notice of lien or encumbrance on a registered vehicle, except a lien which depends upon possession. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section391.htm">28.10.391</a></td> </tr> <tr> <td width="100%"> <table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Possession and Sale"><font color="#FFFFFF"><b>Possession and Sale</b></font></a></td> <td width="50%"><a href="#Links"><strong>Top</strong></a></td> </tr> </table> </td> </tr> <tr> <td width="100%"><strong><font color="#ff0000">Possession After Default</font></strong> <font size="3">Unless otherwise agreed, secured party has, on default, the right to take possession of collateral. In taking possession secured party may proceed without judicial process only if this can be done without breach of the peace. Otherwise, a legal action may proceed. </font>See Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section503.htm">45.09.503</a></td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Right to Redeem Collateral</strong></font>   At any time before secured party has disposed of collateral or entered into contract for disposition, or before discharge under Alaska Statutes 45.09.505(b), debtor or any other secured party may, unless otherwise agreed in writing after default, redeem collateral by tendering fulfillment of all obligations secured by collateral and expenses reasonably incurred by secured party in retaking, holding, and preparing for sale, and, to extent provided in agreement and not prohibited by law, secured party's reasonable attorney fees and legal expenses. See Alaska Statutes   <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section506.htm">45.09.506</a></td> </tr> <tr> <td width="100%"><strong><font color="#FF0000">Compulsory Disposition of Collateral</font> </strong>If debtor has paid 60 per cent of the cash price in case of purchase money security interest in consumer goods, or 60 per cent of loan in case of another security interest in consumer goods, and has not signed, after default, a statement renouncing or modifying debtor's rights, secured party who has taken possession must dispose of collateral by sale under Alaska Statutes 45.09.504.    If secured party fails to do this within 90 days after taking possession, debtor may recover damages. See Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section505.htm">45.09.505</a>   </td> </tr> <tr> <td width="100%"></td> </tr> <tr> <td width="100%"><strong><font color="#ff0000">Secured party's right to dispose of collateral after default</font> </strong>A secured party after default may sell, lease or otherwise dispose of any or all of the collateral in its then condition or following any commercially reasonable preparation or processing.  </td> </tr> <tr> <td width="100%">The proceeds of disposition must be applied in the order following to the reasonable expenses of retaking, holding, preparing for sale or lease, selling, leasing and the like, and, to the extent provided for in the agreement and not prohibited by law, the reasonable attorneys' fees and legal expenses incurred by the secured party.</td> </tr> <tr> <td width="100%">Funds are then applied to satisfaction of indebtedness secured by the security interest under which the sale is made. If any proceeds remain, they would then be applied to satisfaction of indebtedness secured by any subordinate security interest in the collateral if written notification of demand therefor is received before distribution of the proceeds is completed. </td> </tr> <tr> <td width="100%">If requested by the secured party, the holder of a subordinate security interest must seasonably furnish reasonable proof of interest, and unless received, secured party need not comply with the demand. See Alaska Uniform Commercial Code, Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section504.htm">45.09.504</a></td> </tr> <tr> <td width="100%"><strong><font color="#ff0000">Secured Party Must Account to the Debtor</font> </strong>If the security interest secures an indebtedness, secured party must account to debtor for any surplus, and, unless otherwise agreed, debtor is liable for any deficiency. </td> </tr> <tr> <td width="100%"><strong><font color="#FF0000">Public or Private Sale, in a Commercially Reasonable Manner, after Notice</font></strong> Disposition of the collateral may be by public or private sale, and at any time and place and on any terms, but every aspect of the disposition including the method, manner, time, place and terms must be commercially reasonable. See Alaska Uniform Commercial Code, Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section504.htm">45.09.504</a></td> </tr> <tr> <td width="100%"><strong><font color="#ff0000">Reasonable Notice</font> </strong>Unless collateral is perishable or threatens to decline speedily in value, reasonable notification of time and place of any public sale, or reasonable notification of time after which any private sale is to be made must be sent by secured party to debtor. </td> </tr> <tr> <td width="100%">Notice must be sent to any secured party from whom  secured party has received, before sending notice to debtor or before renunciation of  rights, written notice of  claim of interest in collateral. See Alaska Uniform Commercial Code, Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section504.htm">45.09.504</a> </td> </tr> <tr> <td width="100%"><strong><font color="#ff0000">Good faith Purchaser Generally Gets Good Title</font> </strong>When collateral is disposed of by secured party after default, the disposition transfers to purchaser for value all of the debtor's rights therein, discharges the security interest under which made and any subordinate security interests. The purchaser generally takes free of any such rights and interests if purchaser acts in good faith. See Alaska Uniform Commercial Code, Alaska Statutes <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section504.htm">45.09.504</a></td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Acceptance of the Collateral as Discharge</strong></font>   In cases involving collateral not covered by "60%" consumer rule above, a secured party in possession may, after default, <font color="#FF0000">propose to retain</font> the collateral in satisfaction of the obligation. Written notice of the proposal must be sent to the debtor, and possibly others. If  secured party receives objection in writing from a person entitled to receive notification within 21 days, the secured party must dispose of the collateral by sale under Alaska Statutes 45.09.504. If there is no written objection, the secured party may retain collateral in satisfaction of the obligation. See Alaska Statutes  <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09/Section505.htm">45.09.505</a>   </td> </tr> <tr> <td width="100%">See Uniform Commercial Code, <a href="http://www.touchngo.com/lglcntr/akstats/Statutes/Title45/Chapter09.htm">Chapter 9</a>. Secured Transactions</td> </tr> <tr> <td width="100%"> <table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="New Title and Plates"><font color="#FFFFFF"><b>New Title and Plates</b></font></a></td> <td width="50%"><a href="#Links"><strong>Top</strong></a></td> </tr> </table> </td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Application For Title</strong></font> A new title may be issued to the lienholder or to a subsequent buyer following repossession. The transferee of a repossessed vehicle is required to submit completed Application for Title and Registration and a notarized Affidavit of Repossession to DMV office. See Alaska Statutes <a href="http://www.touchngo.com:/lglcntr/akstats/Statutes/Title28/Chapter10/Section211.htm">28.10.211</a>. </td> </tr> <tr> <td width="100%"><font color="#FF0000"><strong>Biennial Registration </strong></font>Since 1997,  all vehicles are registered for two-year periods.  Transferee pays for expired period of registration, even if previous owner permitted registration to expire. The Division of Motor Vehicles collects a Municipal Vehicle Registration Tax (MVRT) for electing municipalities, with rates which vary by location. Certain motor vehicles in Municipality of Anchorage and Fairbanks North Star Borough must have inspection for carbon monoxide emission prior to registration. More information from <a href="http://www.state.ak.us/dmv/dmvhome.htm"><font face="ARIAL" size="2">Division of Motor Vehicles</font></a><table border="0" width="100%"> <tr> <td width="50%" bgcolor="#FF0000"><a name="Other Issues"><font color="#FFFFFF"><strong>Other Issues</strong></font></a></td> <td width="50%"><a href="#Links"><strong>Top</strong></a></td> </tr> </table> </td> </tr> <tr> <td width="100%"><strong><font color="#FF0000">Odometer Disclosure Statement</font></strong> Federal law requires that seller complete a written disclosure of the odometer reading when a motor vehicle is transferred.  The law also requires all states to have the odometer disclosure statement printed on their vehicle titles and to record that reading on the title issued to new owners. </td> </tr> <tr> <td width="100%"><dl> <dt> </dt> </dl> </td> </tr> <tr> <td width="100%"><font color="#ff0000"><strong><small>Copyright © 1998 by LAWDOG.COM Publishing, Inc.</small></strong></font></td> </tr> <tr> <td width="100%"><table border="0" width="100%"> <tr> <td width="50%"><img SRC="nudocr8.gif" WIDTH="80" HEIGHT="60" ALT="LAWDOG Image"></td> <td width="50%"><img src="dsclm5.gif" alt="dsclm5.gif (3069 bytes)" WIDTH="250" HEIGHT="40"></td> </tr> </table> </td> </tr> <tr> <td width="100%"><div align="center"><center><table> <tr> <td width="100%"><p align="center"><font face="Arial, Helvetica, sans-serif" size="-1"><a href="../../legal/crta249.htm" target="_top">terms of use</a> | <a href="../../index.htm" target="_top">lawdog center®</a> | <a href="st1.htm">state center</a> | <a href="mailto:support@lawdog.com">e-mail</a> | <a href="sta1.htm" target="_parent">view in frame</a></font></td> </tr> </table> </center></div></td> </tr> </table> </center></div> </body>