If you have heard someone mention bonded titles before, but you have never had to get one yourself, you might find yourself wondering just why you or someone you know may need one. To help you learn a little more about bonded titles and when one may be required, you will want to keep reading. Here are 3 reasons for getting a bonded title:
You Received An Improperly Assigned Title After Purchasing A Vehicle
You do not receive the title for a vehicle right on the spot when you make your purchase. The information that needs to be on the title will be taken and signatures will be taken. The title is then shipped off to the state, where they will create an updated title. It is very important to make sure that you are carefully reviewing the title when it arrives in the mail. If it has been assigned incorrectly, you need to get a bonded title.
You Were Only Given A Bill Of Sale
If you purchased a vehicle and you only received a bill of sale and no title, you will want to see if you can get a bonded title. Make sure that you are keeping a copy of the bill of sale in a safe place and keep the original in the glove box of the vehicle. It is vital that you do this because that bill of sale is the only proof of ownership that you have.
You Lost The Title To The Vehicle
If you lose the title to the vehicle before your name was able to be assigned to it, you will want to apply for a bonded title. If your name was already assigned to the title before it was lost, you simply need to request a duplicate title. Lost titles without the new owner's name on them need to be turned into bonded titles. Be sure to hold onto your bill of sale, as this is your proof of purchase and the only way the state can verify that it should indeed be your name and information on the new title.
Should you find that any of those instances apply to you or if you feel that you may have a unique situation that will also require a bonded title, you will want to get in touch with the motor vehicles department for your state. The sooner you start the process, the sooner you will have your corrected title in hand.