Does the owner need to sign a release form when their vehicle is repossessed?

You could get an answer from your state court consumer protection division re this question.

But my common sense would be no!

Nothing is needed with your signature on it. You failed to repay the loan as laid out in the terms of your contract, suit more than likely was filed against you regarding this matter. The financial institution has legal rights to the vehicle via a lien, they dispatch a repo man who locates and takes back the vehicle, usually in the dead of night while you sleep, to avoid any confrontation.

Answer

Depends on what the release is for. A personal property release says that you have gotten all your PP out of the car. You cant say you had $1500.00 in the car when it was repoed. A vol. release says that AND that you are returning the car and you KNOW you will be responsible for any defiency balance due after the lender sells the car. Read what you are asked to sign. If the car is repoed in the nite, you wont be asked to sign it. Usually the repoman is trying to get the keys cause he cant afford a repo truck. He wants to DRIVE it away. LOL

Answer

Why can't you say there 1500.00 in the truck when it was repoed if there was??

No you do not sign a release. Most of the time you won't even know you were repoed until after the fact.

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