Sec. 2. A person that holds a lien on a vehicle, has repossessed the vehicle, and wants to obtain a certificate of title for the vehicle in the person's name may obtain the certificate of title from the bureau if:
(1) the person from whom the vehicle has been repossessed is shown by the records of the bureau, as defined in IC 9-14-12-2(1) and IC 9-14-12-2(2), to be the last registered owner of the vehicle; and
(2) the person that holds the lien:
(A) has complied with this chapter; and
(B) establishes to the satisfaction of the bureau that the person is entitled to the certificate of title.