Affidavit Of Repossession Template for the United Arab Emirates

An Affidavit of Repossession is a sworn legal statement that documents your authority to reclaim financed property from a defaulting borrower in the United Arab Emirates. This notarized document serves as critical evidence in asset recovery proceedings and provides legal protection when you need to formally record the circumstances and legality of a repossession action.

When do you need this document?

You need an Affidavit of Repossession when repossessing vehicles, equipment, or other financed assets after a borrower defaults on their payment obligations. Financial institutions typically require this document when seizing automobiles from delinquent borrowers, while equipment leasing companies use it to reclaim machinery or technology assets. The affidavit becomes essential if the debtor disputes the repossession, as it provides sworn testimony about your legal authority and the proper procedures followed. You'll also need this document when selling repossessed assets at auction, as buyers and registration authorities require proof of lawful ownership transfer.

Key legal considerations

Your affidavit must include comprehensive property identification details, including vehicle identification numbers, serial numbers, or other unique identifiers that clearly establish the specific asset repossessed. Document the underlying security agreement that grants your repossession rights, including loan numbers, dates, and specific default provisions triggered. Include detailed information about the repossession circumstances, such as the date, time, location, and method used to reclaim the property. Ensure your affidavit identifies all parties involved, including the debtor's full legal name and address, your capacity as lender or authorized agent, and any witnesses present during repossession. Address any resistance encountered during repossession and confirm that proper notice requirements were fulfilled before taking possession.

Legal requirements in United Arab Emirates

Under UAE Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 18 of 1993 (Commercial Transactions Law), your Affidavit of Repossession must be properly notarized by an authorized notary public in accordance with Federal Law No. 4 of 2013 (Notary Public Law). The document must be prepared in Arabic or include certified Arabic translations when submitted to UAE courts or government authorities. Your security agreement must comply with UAE commercial law requirements, particularly regarding perfection of security interests and proper registration with relevant authorities. Include references to specific contractual provisions that authorize repossession and confirm compliance with any mandatory notice periods required under UAE law. If the repossession involves vehicles, ensure compliance with Emirates-specific vehicle registration and transfer requirements. Document proper storage and handling of repossessed assets to prevent claims of conversion or wrongful possession under UAE civil law.