SE HABLA ESPAÑOL
¿Qué es un bonded title y por qué lo necesito?
Un Texas Bonded Title (también es referido como un Certificate of Title Bond, Defective Title Bond, Lost Vehicle Title Bond o DMV Bond) permite al dueño del vehículo mostrar legalmente que es el propietario y registrar el vehículo con el estado cuando un título fue perdido, robado o ha desaparecido, o si la persona que le vendio el carro lleno el título mal.
Usted recibirá un Texas bonded title, el cual protege al DMV y cualquiera que tenga un interés de propietario legítimo en caso de una pérdida financiera. Si nadie reclama ser propietario del vehículo al levantar un reclamo en contra de la fianza durante tres años, el DMV emitirá un título sin fianza.
Si su título de su vehículo ha sido perdido, robado o ha desaparecido, nosotros se lo arreglaremos. ¡¡¡Es asi de FACIL!!!
LEGACY WEST BONDS & TITLES
What Is a Bonded Title?
A bonded title will allow you to do the same things you can do with a standard title: insure, register, or transfer ownership of a vehicle. You’ll need to obtain one if you did not receive a valid certificate of title from the party who sold you the vehicle, or if the title you received was lost or stolen before you were able to register the vehicle in your name.
A Texas bonded title is secured by a surety bond, which is your guarantee that you are the vehicle’s rightful owner. If it turns out that you are not, the bond ensures compensation for the true owner or lienholder who files a claim during the three years that it’s in force. It also provides a way to pay damages to anyone you may have sold the vehicle to during that time.
If your Texas title bond expires without any claims having been filed against it, you can exchange your bonded title for a standard certificate of title.
Who Is Eligible for a Bonded Title
You’ll need to contact your local DMV, explain why you need an Texas bonded title, and see if you are eligible. Make sure they understand that you are inquiring about a bonded title, not a duplicate title certificate for a vehicle already registered in your name. Obtaining a duplicate certificate does not require a surety bond. You cannot obtain a bonded title for an abandoned vehicle.
How Do I Get a Bonded Title
There are several steps you must complete in order to obtain a bonded title:
- Submit any evidence you have of your ownership of the vehicle, such as a bill of sale. If you have no evidence, create a written explanation of how you came into possession of the vehicle and get it notarized.
- Obtain the vehicle’s current wholesale value from an authorized source.
- Purchase a Texas title bond in an amount equal to 1 ½ times the vehicle’s value.
- Complete a Motor Vehicle Use Tax Return.
- Complete the application for a Texas bonded title and submit it, along with the rest of your paperwork, the surety bond, your Motor Vehicle Use Tax payment, and the application fee to the Texas Secretary of State’s Office.
- If you are informed that there is an existing lienholder, you won’t be able to get a Texas bonded title unless you first obtain a lien release.
- After approval of your application package, you’ll be issued a bonded title.
How Are Title Bond Claims Paid
If a valid claim is filed against your Texas title bond during its three-year term, you are legally obligated to pay it. The usual practice is for the surety company to pay the claim on your behalf and then collect reimbursement from you.
How Much Does a Title Bond Cost
The premium for an Texas title bond is a small percentage of the required bond amount. Your premium rate will be set by the surety bond company.
Get A Quote
Our surety bond professionals will get you the Texas title bond you need at a competitive rate.
CONTACT US:
SE HABLA ESPAÑOL
ALEX NOYOLA SR
21.4.282.2772
legacywestbonds@gmail.com
Frequently Asked Questions
What is a Texas Bonded Title??
A Texas Bonded Title is a document that proves vehicle ownership when the original vehicle title or ownership documents aren’t available. The surety bond required to get a Texas Bonded Title helps safeguard against fraudulent vehicle claims. It is commonly called a Lost Title Bond, Texas Title Bond, Title Surety Bond, or Certificate of Title Bond.
Every Lost Title Bond involves three parties:
Surety – the bond company that backs/issues the bond (Ex. JW Surety)
Principal – the person who needs to get the bond (the vehicle owner)
Obligee – the one asking for the bond (Texas Department of Motor Vehicles)
How Does a Texas Bonded Title Work?
A Texas Bonded Title acts as proof of ownership for a vehicle. In addition, it is a financial guarantee/binding contract. It allows the Texas DMV to issue proof of ownership for vehicles while financially protecting the general public in the case of fraudulent vehicle claims.
In cases where a Texas Bonded Title is active for 3 years without any legitimate claims, it permanently replaces the vehicle’s original title.
Who Needs a Texas Bonded Title?
A Texas Bond Title is required for anyone who cannot show evidence of ownership of a vehicle that requires a title. This may be due to:
inability to contact the original owner of the vehicle
the original vehicle title being lost
missing information
We are here to HELP YOU!
Steps to Obtain a Surety Bond Title.
How to Get a Texas Bonded Title
Step 1: Determine Your Eligibility
All applicants must be:
- a resident of Texas; or
- military personnel stationed in Texas.
In addition, your vehicle must be in your possession and cannot be abandoned, stolen, junked, or subject to a lawsuit. It also cannot be missing any major components (a body, frame, or motor). However, it does not necessarily have to be running at the time.
Step 2: Gather the Required Documents and Information
If you meet the above requirements, you will need the following:
- Bonded Title Application or Tax Collector Hearing Statement of Fact (VTR-130-SOF)
- Statement of Physical Inspection
- A copy of your photo ID
- A release of lien or authorization from the lienholder (out-of-state-vehicles only)
- Any supporting evidence you may have for your title claim. This can include an invoice, bill of sale, canceled check, or anything else you believe may be helpful.
Step 3: Get Your Vehicle Inspected (For Out of State Vehicles)
If you are a Texas resident, or a member of the US military stationed there, and your vehicle is from out of state, the Vehicle Identification Number (VIN) must be verified. To do so, your vehicle will undergo verification by an auto theft investigator at a certified Safety Inspection Station.
Contact your local police department or sheriff’s office to determine when and where your local law enforcement offers these inspections. Once complete, they will issue you a vehicle inspection report (Form VTR-68-A) to include with your application.
Step 4: Fill out and Submit the Necessary Documents to the DMV
Mail your application, supporting documents, and a $15 administration fee to your local DMV.
You can find your nearest DMV on the Texas DMV website.
Step 5: Wait for Approval / Your Vehicle Appraisal
Successful applicants will receive a Notice of Determination for a Bonded Title or Tax Assessor-Collector Hearing (Form VTR-130-ND). On this form, you will find an appraisal of your vehicle and the amount for the surety bond you need to purchase (1.5x the value of the vehicle).
Therefore, if your vehicle is worth $20,000, your bond will need to be $30,000. If your vehicle is worth $14,000, then your bond will need to be for $21,000.
It is important to note that a lost title bond costs a small percentage of the total bond amount required (generally 1% – 5% for those with good credit).
How Does the TxDMV Appraise my Vehicle?
If a value is unavailable through SPV or NADA, an insurance adjuster may be used.
The Standard Presumptive Value (SPV) from their website.
No SPV available? The National Auto Dealers Association (NADA) reference guide will be used.
★ ★ ★ ★ ★
Great company! I was able to get my bond application submitted and approved in less than 24 hours . Two thumbs up!.
Michael Martinez
/
Customer
LOCATION:
8055 WINDROSE AVE
PLANO, TEXAS 75024