What is a Texas Certificate of Title Bond?
No vehicle title? No problem! A surety bond is all you need!
Do you have a vehicle title that is unreadable, lost, damaged, or stolen? If you answered yes to any, then you will be required to get a Certificate of Title Surety Bond by the Texas Department of Motor Vehicles to prove full ownership of the vehicle.
What are the qualifications for the bond application?
To secure A Certificate of Title Surety Bond in Texas, you need to be eligible for the following:
- The bond applicant has the vehicle in his possession.
- There is no recorded lien in the vehicle’s record. A lien is someone who is claiming to hold a legally binding right as security for an obligation to the vehicle that is in your possession.
- If there is a lien recorded, the lien has to be more than ten years old.
- If the lien recorded is less than ten years old, the Texas DMV will issue a rejection letter containing this stipulation:
The surety bond company will be required to submit a certification that the lien has been satisfied. This certification by the surety bond company should be attached to the surety bond upon submission to the Texas DMV.
Once a valid surety bond has been obtained, the certificate of title will now be known as a Bonded Title.
What are the steps in getting this type of bond?
- First, you must determine if you are qualified to procure a bonded title by doing the following:
- Fill out the VTR-130-SOF form ((Bonded Title Application or Tax Collector Hearing Statement of Fact)
- Provide any evidence that you are the owner of the vehicle such as a bill of sale or any other documents.
- For salvaged, repaired, and reconstructed vehicles, submit a Rebuilt Vehicle Statement (Form VTR-61).
- For newly assembled vehicles, submit an ASE Inspection Form (VTR-64 or VTR-852)
- For vehicles that do not currently have a record in Texas, you must file an original Vehicle Inspection Report or Law Enforcement Identification Number Inspection (Form VTR-68-A).
- Pay the processing fee of $15 to Texas DMV
- Get help from a reputable surety bond company such as us! Once the Texas DMV has provided you the letter to get a bond, we will then proceed by securing the bond that you need.
- If a valid surety bond is obtained, you must submit the bond along with the VTR-130-SOF, 130-U form, rejection letter, a certification that the lien has been satisfied (if necessary), evidence of ownership, and a government-issued ID. The County Tax Assessor-Collector offices will then process the certificate of title application.
How much will the bond cost?
The Transportation Code states that the bond amount should be one and one-half times the value of the vehicle, and this bond will remain in effect for three years.
Get in touch with us today to get your Texas Certificate of Title Surety Bond!