MV-950 Form: Affirmation of Repossession and Bill of Sale (PDF)

MV-950 Form – The MV-950 form is the official New York State DMV Affirmation of Repossession and Bill of Sale. Lenders (lienholders) use it when repossessing a motor vehicle or motorcycle due to borrower default on a secured loan.

This two-page document serves two main purposes:

  • It affirms that the lender complied with New York Vehicle and Traffic Law § 425(1) notification requirements.
  • It functions as a legal bill of sale when the lender sells the repossessed vehicle to a new purchaser.

The form is mandatory for transferring ownership after repossession in New York. The current version is MV-950 (1/19), and the official PDF remains available directly from the NY DMV website.

Why Do Lenders and Purchasers Need the MV-950 Form?

Lenders must complete the MV-950 whenever they repossess a vehicle or motorcycle under Article 9 of the Uniform Commercial Code or similar authority. It proves:

  • Proper notification was given to police, the vehicle owner, and the DMV.
  • Accurate odometer disclosure (required by federal and state law).
  • Damage/salvage status disclosure.

If the lender sells the repossessed vehicle in New York, the purchaser receives the completed MV-950 along with the prior title (if available) and other documents. Buyers then use it to apply for a new title and registration via Form MV-82 or MV-82TON.

Without the MV-950, the DMV will not process the title transfer for a repossessed vehicle.

Key Legal Requirements Under New York Vehicle and Traffic Law § 425(1)

Section 425(1) requires lenders to:

  • Notify the local police (or equivalent agency) immediately after repossession.
  • Notify the vehicle owner within 24 hours (in person, certified mail, or first-class mail with certificate of mailing).
  • Deliver or mail notice to the nearest NY DMV office (along with the license plates) within 11 days.

The MV-950 form documents that these steps were followed. Failure to comply can result in legal penalties, and false statements on the form may lead to substantial civil fines plus penalties under the Penal Law.

Note: This notification process does not apply to repossessed manufactured homes or boats.

Step-by-Step Guide: How to Fill Out the MV-950 Form?

Lenders complete the form following the official instructions printed on page 1. Here’s a clear breakdown of every section:

Borrower and Lender Information (Boxes 1–4 for both)

  • Borrower/Current Owner: Full name, address, state last registered, state last titled.
  • Lender: Business name, representative’s name, complete address.

Vehicle Description

Include:

  • VIN (Vehicle Identification Number)
  • Plate number
  • Year, Make, Model

Purchaser Information (Boxes 5–6 – only if selling the vehicle)

  • Purchaser’s full name and address
  • Date of sale
  • Price paid

Odometer Disclosure Statement

  • Enter current mileage (do not include tenths).
  • Check the number of digits on the odometer (5, 6, or 7).
  • Select one of the three required certifications:
    1. “ACTUAL MILEAGE”
    2. “EXCEEDS MECHANICAL LIMITS”
    3. “NOT THE ACTUAL MILEAGE. WARNING: ODOMETER DISCREPANCY.”

Federal and state law require truthful mileage disclosure; violations can result in fines or imprisonment.

Damage Disclosure Statement

Check one box:

  • “has been” wrecked/damaged to more than 75% of retail value (triggers “Rebuilt Salvage: NY” on the new title and requires an anti-theft examination).
  • “has not been” damaged beyond that threshold.

Repossession Details

  • Date and location of repossession.
  • Security contract date.
  • Name of auctioneer authorized to sell (if applicable).

Notification of Repossession

List the date notified and full names/addresses for:

  • Police agency
  • Commissioner of Motor Vehicles office
  • Borrower/Current Owner
  • Any “Other” parties

Affirmation and Signatures

  • The lender must sign under penalties of perjury, affirming compliance with § 425(1) and disclosure of any other open liens.
  • The purchaser also signs if the vehicle is being sold.

Important: The original signed MV-950 (or exact computer-generated facsimile following DMV format) is required. Photocopies are not accepted.

What to Do After Completing the MV-950?

  1. Provide the completed form to the purchaser (if selling).
  2. Submit the required notices and plates to the DMV within 11 days.
  3. For title transfer, the purchaser submits the MV-950 with:
    • Prior title (if available)
    • MV-82 or MV-82TON application
    • Sales tax clearance (if applicable)
    • MV-901 (Notice of Recorded Lien), if needed

Download the Official MV-950 Form PDF

Direct download link (official NY DMV):
https://dmv.ny.gov/forms/mv950.pdf

Always use the latest version from the DMV website to ensure compliance.

Frequently Asked Questions (FAQs)

Can I fill out the MV-950 online?
Yes. Many third-party tools allow fillable PDFs, but you must print and sign the original (or use an exact DMV-approved computer-generated version).

Is the MV-950 required for out-of-state titles?
Yes, when the vehicle is sold to a New York buyer. Additional steps may apply for out-of-state buyers.

What if there are other liens on the vehicle?
You must disclose them to the purchaser. They will appear on the new title unless released.

Is a notary required?
No. The form uses a perjury affirmation instead.

Final Tips for Compliance

  • Double-check all dates, addresses, and disclosures.
  • Keep copies of the MV-950 and all notification records.
  • Consult the full MV-909 guide (“What Lenders Should Know About Repossessions”) on the NY DMV website for additional details.

The MV-950 form is a critical document that protects both lenders and buyers during vehicle repossessions in New York. Using the official PDF and following the instructions exactly ensures smooth title transfer and full legal compliance. Download it today from the NY DMV and complete your repossession transaction correctly.

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