Sometimes, you might find yourself in a precarious situation after buying a vehicle without a legal title. However, you still might have a chance of applying to seek out a bonded title. This title is typically a surety certification issued when you've lost or damaged your initial title. Furthermore, most second-hand car sellers shun to sign-off sign off their respective car titles to the buyers' names. If that happens, they'll need bonded vehicle titles to facilitate legal handover processes.
If your used car seller was reluctant to sign over the standard title to you, you could opt for the bonded title usually offered at your local surety firm. Whichever type of vehicle you've purchased, you'd get access to necessary bonded titles. However, you should produce evidence that proves you've purchased the car or were gifted.
Furthermore, some federal statutes demand that you show some proof of attempting to obtain an original car title in advance. Taxes may also apply in some instances. To help you understand why you might need to apply for a bonded title for your car, read on to learn more:
Purchased the Car without the Right Documents
It isn't easy to prove the actual ownership of a car if you never received its title, gift contract, or bill of sale. You will be required to provide some form of proof that shows how you acquired the vehicle, such as sale receipts and any other transactional documents. These documents are vital in helping you obtain your bonded title.
Lost the Title after Purchasing the Car
Unfortunately, you may buy a car, be handed the title certificate, but end up misplacing it before the name transfer process. If that happens, look for the sales bills or purchase documents, which will help the title application process.
However, if the transfer process had already taken place before you lose the title, head over to the DMV offices for a duplicate title certificate instead of applying for a bonded title.
Purchased the Car with an Incorrectly Signed Title
Finally, the validity of signed titles is something to always keep in mind. Some vehicle sellers might incorrectly sign the title, which compromises its validity. Others might sign under wrong names, and as a result, you're left with no choice but to apply for a bonded title. Poorly signed titles are as good as useless, and you might want to find your bill of sale or receipt to act as proof of ownership while applying for bonded titles.Share