Legal Question in Credit and Debt Law in New Jersey
Repossessing vehicles due to default
How do we repossess commercial semi trailers from customers that have defaulted on their lease agreement and have been notified there will be a repossession set forth? What if the trailers are full of freight upon repossession? What authorities must we notify of our intent to repossess?
1 Answer from Attorneys
Re: Repossessing vehicles due to default
The process in an action for replevin is set forth by both statute and rule. This is not a simple matter and if you are unsure how to proceed, I recomend you retain the services of a Commercial Litigation attorney who has experience in this matter. Should you act on your own, you are presumed fully cognizant of the law and legal requirements; should you violate the process and take possession improperly, you could find yourself charged with grand larceny, both by the person inpossession of the trailer and the owners of the contents.