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Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.
If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...
A common example is where an automobile finance company initiates a replevin action to gain possession of a vehicle, following payment default. Replevin actions are usually employed when the lender cannot find the collateral, or cannot peacefully obtain it through self-help repossession. Replevin actions may also be pursued by true owners of ...
In Italy, repossession if possible only if an executive order by a court is issued [10] and must be performed by a special public official only (ufficiale giudiziario). [11] Repossession by self-help is in general illegal and constitutes theft. Repossession by self-help of a stolen property is legal only if made by the owner of the property and ...
The effects of the coronavirus pandemic have been especially burdensome on auto loans borrowers. Unlike student loans and mortgages, there are no government-backed relief programs to cover a ...
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The Supreme Court (SC) is the highest court of the land and is the court of last resort. [ 1 ] : 6 It is led by the Chief Justice , who is joined by 14 Associate Justices . [ 1 ] : 39 The court has expansive powers and a constitutional responsibility to oversee other branches of government, able even to overrule the discretion of political and ...
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