Notice Of Intent To Sell Repossessed Vehicle Form Template for England and Wales

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Key Requirements PROMPT example:

Notice Of Intent To Sell Repossessed Vehicle Form

"I need a Notice Of Intent To Sell Repossessed Vehicle Form for a defaulted Mercedes C-Class under a hire purchase agreement, where we plan to sell the vehicle in March 2025 and need to notify the debtor who has moved addresses several times."

Document background

The Notice Of Intent To Sell Repossessed Vehicle Form is a crucial document in the vehicle repossession process under English and Welsh law. It must be issued after a vehicle has been repossessed but before any sale can take place, typically following a default on a finance agreement. The notice includes essential information such as vehicle details, outstanding debt amount, and the proposed sale timeline. It ensures compliance with the Consumer Credit Act 1974 and FCA regulations, while protecting both creditor and debtor interests. The document must be served with proper notice periods and contains specific statutory information required by law.

Suggested Sections

1. Creditor Details: Full name, address, and contact information of the creditor/finance company

2. Debtor Details: Full name and last known address of the debtor

3. Vehicle Details: Complete vehicle description including make, model, year, VIN, registration number, and current location

4. Default Information: Details of the default including outstanding amount, date of default, and breach of agreement details

5. Sale Intention Declaration: Formal statement declaring the intention to sell the repossessed vehicle

6. Notice Period: Specified time period before sale will occur, with relevant dates clearly stated

Optional Sections

1. Valuation Details: Information about vehicle valuation and estimated sale price, used when transparency about pricing is required

2. Right to Redeem: Information about debtor's right to pay outstanding amount and reclaim the vehicle, included when redemption period is still open

3. Sale Process Details: Information about how and where the sale will be conducted, included for more complex cases or when specifically requested

4. Surplus/Deficit Notice: Information about how any surplus or deficit from the sale will be handled, included when required by specific circumstances

Suggested Schedules

1. Schedule A - Vehicle Condition Report: Detailed report documenting the condition of the vehicle at time of repossession including photographs and damage assessment

2. Schedule B - Default Notice History: Chronological record of all default notices and communications sent to the debtor

3. Schedule C - Valuation Certificate: Independent valuation certificate showing the current market value of the vehicle

4. Schedule D - Original Credit Agreement Reference: Details of the original credit agreement including agreement number and date

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Identification of Parties
Notice Details
Vehicle Description
Default Statement
Outstanding Amount
Right to Sell
Sale Process
Notice Period
Right of Redemption
Valuation Statement
Distribution of Proceeds
Further Action
Governing Law
Contact Information
Signature Block

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Let's create your Notice Of Intent To Sell Repossessed Vehicle Form

Authors

Alex Denne

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