Idaho DMV Affidavit of Repossession – Fill Out and Use This PDF

Idaho DMV Affidavit of Repossession PDF Details

When a vehicle or vessel is repossessed in Idaho due to failure to adhere to the agreed terms of financing or payment, the process of legally transferring ownership back to the lienholder is formalized through the DMV Affidavit of Repossession form, officially known as ITD 3366. This critical document, devised by the Idaho Transportation Department - Vehicle Services, outlines detailed information regarding the repossessed item including its identification numbers, make, model, and year, alongside the essential details of the repossession itself such as the date it occurred and specific details about the original owners and the lienholder. The primary function of this affidavit is to certify, under penalty of law, that the lienholder has lawfully repossessed the vehicle or vessel due to a breach in the conditional sale contract, chattel mortgage, or security agreement, thereby transferring all rights, titles, and interest back to the lienholder or to a new purchaser if applicable. Additionally, this document protects the Idaho Transportation Department by requiring the lienholder to indemnify them against all liabilities and defend any litigation arising from the issuance of a new Certificate of Title. It’s worth noting that this form also addresses odometer readings and potential discrepancies, ensuring transparency in the vehicle or vessel's history as it changes hands post-repossession. Completing and submitting this form is a crucial step in correctly navigating the administrative path of repossession and ownership transfer in Idaho, safeguarding the interests of all parties involved.