A bonded title is usually used in the absence of the regular car title. In many cases, individuals get these titles if they need to do car registration, dispose of, or take an insurance cover for their vehicles. Below are some situations where a bonded title comes in handy.
If You Got the Bill of Sale Only
If you got your car through gifting, or you purchased it and only got a bill of sale, you are therefore qualified for a bonded title so that you can sign for the vehicle's title rights. Ensure that you retain the bill of sale for supporting evidence, as you'll require it to prove vehicle ownership.
If the Owner Didn't Properly Sign the Title
If the title hasn't been appropriately signed, for instance, there is a wrong signature, you should procure a bonded title. Also, if the person writing the contract mistakenly forgot the seller's name, otherwise known as title-jumping, you can request a bonded title. More so, if the title is damaged or illegible, you can apply for a bonded title.
If You Bought a Vehicle and You Didn't Get a Title
People give away or sell their vehicles in some circumstances and don't sign a contract or agreement to that effect. A good example is when you win a car in a typical street car race. Here, the chances are high that your rival won't sign a gifting contract or may not hand in the title to you.
Therefore, you must first present evidence that the car is not anyone else's but yours by submitting a bill of sale to get the bonded title. Additionally, a written statement describing how you got the vehicle can also do in the absence of the two.
If You Misplaced the Title
What if you happen to misplace your title after purchasing your car and you hadn't transferred it to your name? Well, in such a case, note down a statement or the receipt you got after purchasing the vehicle to get a bonded title.
However, what if you had transferred the title to your name before misplacing it? Then, it would help if you visited your motor vehicle department in your area to get a duplicate title certificate.
A vehicle title is a crucial document that's needed in various transactions. The good news is that even if you don't have it, a bonded title will give you an advantage, and you can still engage in the transactions. Contact an auto service for more information about bonded titles.Share
9 June 2021
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