Personal Property In Vehicle Any person who lawfully repossesses a motor vehicle shall be an involuntary, gratuitous, or naked depository of any personal property found in such motor vehicle and has a lien on such property for any reasonable expenses incurred in storing such property or in giving notice to such owner. See Georgia Code Section 44-14-411.1 Within ten days of date of repossession, person repossessing vehicle must notify owner of the intent to dispose of personal property. Notice must be actual notice, but may be by personal service or by service by certified mail. If the personal property is not redeemed within 30 days from the date of the first notice, a second notice must be sent in same manner. If the personal property is not redeemed within 30 days from date of second notice, personal property may be disposed of in manner most expeditious, without further liability and proceeds are disbursed as provided in Code Section 44-14-412. See Georgia Code Section 44-14-411.1 No Deficiency Without Notice When a motor vehicle has been repossessed after default in accordance with Part 5 of Article 9 of the Uniform Commercial Code, the secured party may not recover a deficiency against buyer unless, within ten days after repossession, he forwards by registered or certified mail to address of buyer shown on contract or later designated by buyer, a notice of the intention of secured party to pursue a deficiency claim against buyer. The notice must also advise buyer of right of redemption, and right to demand a public sale of repossessed vehicle. In event buyer exercises right to demand a public sale, he must advise holder in writing of election by registered or certified mail, addressed to holder at address from which holders notice emanated, within ten days after the posting of the original notice. With election by buyer, holder must dispose of vehicle at a public sale as provided by law, in the state and county where original sale took place, or state and county where vehicle was repossessed, or state and county of buyers residence, at holders election. This provides cumulative additional rights and remedies to the Uniform Commercial Code Provisions which must be fulfilled before deficiency claim will lie against a buyer. See Georgia Code Section 10-1-36
Posted on: Tue, 29 Jul 2014 21:26:13 +0000
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