A vehicle’s standard certificate of title provides legal information about the vehicle and who owns it. Generally speaking, when someone purchases a vehicle and has it transferred into their name, they receive the certificate of title.
However, under certain circumstances, a vehicle’s title may not be present. In such cases, the state requires the titleholder to get a certificate of title surety bond, also known as a bonded title.
While it isn’t complicated to get a bonded title, it’s important to know why you might need one. So, we prepared this piece with all the reasons why you might need a title bond. Take a look.
1. You Purchased a Vehicle without Receiving a Tile
Several people either sell or donate their vehicles without signing a contract. In this case, you’ll have to get a bonded title by proving that the vehicle is, in fact, owned by you. While different states have different requirements for this, valid proof typically includes a bill of sale or cancelled check.
If you don’t have either, you will have to check your state’s requirements, but you may be required to file a statement of fact, a copy of your photo ID, a statement of physical inspection, and supporting evidence for your title claim.
2. You Purchased a Vehicle with an Improperly Assigned Title
If you bought a vehicle, but the title you received was improperly assigned, meaning an incorrect name was listed in the buyer/seller section, then you will have to get a bonded title.
If the seller’s name wasn’t on the title (a tactic known as title-jumping, then you may need to get a bonded title. Likewise, if the title you received is unreadable or damaged, you may need to get a bonded title.
3. You Purchased a Vehicle and Then Misplaced the Title
We all misplace things, so if you bought a vehicle and lost the certificate of title before you could transfer it into your name, you will need to get a bonded title. To do this, you’ll have to use the bill of sale, notarized statement, or receipt to apply for it.
If you lose your title after you already transferred it into your name, you simply need to apply for a duplicate certificate of title at the DMV. So, you won’t need to apply for a bonded title.
Apply for a Bonded Title with Surety EZ for a Streamlined Process
If you’re looking to apply for a bonded title in Los Angeles, consider us at Surety EZ. We are a long-standing surety company with an impressive reputation for having a quick, streamlined application process.
Get in touch for more details.