What are my options to get back the property I have leased since leasee is not paying?
Full Question:
Answer:
Thank you for your inquiry. Please see the definitions at the following links:
http://www.uslegalforms.com/legaldefinitions/r/repossession-of-auto.php
http://www.uslegalforms.com/legaldefinitions/r/replevin.php
The following are NY statutes:
§ 425. Repossession of motor vehicle or motorcycle; garageman's lien;
notice to police. 1. Any person, firm or corporation, or agent, employee
or representative thereof, repossessing or retaking a motor vehicle or
motorcycle pursuant to the provisions of article nine of the uniform
commercial code, or other authority of law, or any contract or
agreement, shall, immediately following such repossession or retaking,
personally appear at a station house or other office of the police
department, or agency or officer performing like functions, in the
locality wherein such repossession or retaking occurred, give notice to
such department, agency or officer of such repossession or retaking and
thereafter and within twenty-four hours personally deliver or mail by
special delivery first class mail to the nearest motor vehicle district
office, (a) notice of such repossession or retaking in such form as the
commissioner may require and (b) the number plates of such motor vehicle
or motorcycle. Notice of such repossession or retaking, including the
name and address of the person, firm or corporation repossessing or
retaking the same, shall also be given within twenty-four hours thereof
to the owner of such motor vehicle or motorcycle, either personally or
by registered or certified mail directed to such owner at his last-known
address. Unless the motor vehicle or motorcycle can be repossessed or
retaken without breach of the peace, it shall be repossessed or retaken
by legal process, but nothing herein contained shall be construed to
authorize a violation of the criminal law.
2. Any person, firm or corporation, or agent, employee or
representative thereof holding a motor vehicle or motorcycle under a
lien for repairs or storage pursuant to any authority of law, or any
contract or agreement shall return any registration plates for such
vehicle which are in his possession to the registrant upon the
registrant's request, or if not so returned shall, within twenty-four
hours after such request, personally deliver or mail by special delivery
first class mail to the nearest motor vehicle office (a) notice of such
holding in such form as the commissioner may require and (b) the number
plates of such motor vehicle or motorcycle.
§ 315. Claim for deficiency after default and repossession. If a buyer
defaults on any instalment of the time sale price and the holder obtains
possession of the motor vehicle and disposes of it as provided by
section 9--610 of the uniform commercial code, the buyer shall be liable
to the holder for any deficiency to the extent provided in that section;
provided, however, that in calculating such deficiency there shall be
deducted from the amount thereof as prescribed by such section 9--610,
an amount equal to that portion of the refund credit to which the buyer
would have been entitled under section three hundred five of this
chapter if, at the time the holder disposed of the motor vehicle, the
buyer had not been in default and had prepaid in full the balance of the
time sale price as the amount realized upon the disposition of the motor
vehicle bears to the balance of the time sale price.