The Florida Statutes were recently amended to permit a lien holder to suspend tag renewal on vehicles out for repossession. (Such a procedure had been in place prior to 2010, when it was suddenly suspended; however, this past July, the Florida Statutes were amended and this procedure was modified and reinstated.)
The law requires the lender to first issue a DMV form to the vehicle owner, demanding surrender of the vehicle (DMV Form 82192). Once this form is sent, the lender may submit a notice of repossession form to the DMV (DMV Form 82191). Copies of all forms should be retained for your records.
The DMV procedural manual outline the process in more detail. Contact Hiday & Ricke if you have any questions regarding this procedure or how to complete any of the forms.