Banks Duty In A Repossession
Banks Duty In A Repossession
The bank or the lien holder has the duty to assure that a repossession is conducted without a breach of the peace. The lien holder has a non-delegable duty to assure appropriate repossession. New Jersey has adopted the rule that a lien holder has a non-delegable duty to effectuate a repossession without a breach of the peace. See DeMary v. Rieker, 302 N.J. Super. 208, 221 (App. Div. 1997). In this case the plaintiff was injured during a repossession attempt. The lien holder, Chase, claimed that the repossession company was an independent contractor and, as such, there was no liability. The Court held that N.J.S.A. 12A:9-503 only authorizes a repossession without judicial process where it is accomplished without breach of the peace, because there is the distinct probably that an involuntary repossession may become a highly confrontational situation where the person confiscating the property of another particularly when the other believes they are entitled to keep the property, there is potential for a dispute.
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