12 Pa. C.S. § 6260

Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 6260 - Sale of motor vehicle after repossession
(a) Forfeiture.--If the repossessed motor vehicle subject to an installment sale contract is not redeemed by the buyer either by termination or reinstatement of the contract within the 15-day notice of redemption period, the buyer shall forfeit all claim to the motor vehicle and collateral security.
(b) Deficiency.--If the buyer does not redeem the repossessed motor vehicle within the 15-day notice of redemption period, the installment seller or holder may not bring an action or proceeding against the buyer for a deficiency under section 6261 (relating to deficiency judgment), unless there has been a public or private sale of the repossessed motor vehicle and collateral security.
(c)Motor vehicle title.--At the sale of a repossessed motor vehicle to a purchaser, the installment seller or holder shall provide to the purchaser the title to the vehicle and all necessary documents to effect the transfer of the motor vehicle.

12 Pa.C.S. § 6260

Added by P.L. 1081 2013 No. 98, § 4, eff. 11/27/2014.