NYS DMV Form MV-950. Affirmation of Repossession and Bill of Sale

Form NYS DMV MV-950 is required to be completed when a lender repossesses a vehicle in New York State. This form serves two purposes: to affirm the repossession of the vehicle and to transfer ownership to a new owner.

The form typically requires information such as the vehicle identification number (VIN), details about the lender, information about the previous owner, and details about the new owner. Additionally, the form includes sections for both the lender and the new owner to sign and affirm the repossession and sale of the vehicle.

Important fields in this form include the vehicle VIN, information about the lender and previous owner, and information about the new owner. It is crucial to accurately complete this form to ensure a legal transfer of ownership and to document the repossession of the vehicle.

Application Example: When a lender repossesses a vehicle in New York State, they must complete Form NYS DMV MV-950 to legally transfer ownership to a new owner. This form helps protect the rights and interests of all parties involved in the repossession process.

Related Forms: Depending on the specific circumstances, additional forms may be required, such as a Notice of Lien Sale (MV-901) or a Vehicle Registration/Title Application (MV-82).