A COMPREHENSIVE GUIDE TO CALIFORNIA LOST TITLE BONDS

WHAT IS A LOST TITLE BOND?

A lost title bond, also known as a certificate of title bond or vehicle title bond, is a surety bond designed to protect the public from financial harm if the applicant does not legally own the vehicle. It serves as a safeguard for the state and future buyers against potential ownership disputes. Should someone else claim ownership of the vehicle after a bonded title is issued, the bond provides financial protection to resolve the dispute.

CALIFORNIA LOST TITLE BOND

In California, a lost title bond is referred to as a Motor Vehicle Ownership Surety Bond. This bond acts as a financial guarantee to protect all parties involved in a vehicle transaction when standard proof of ownership cannot be provided. It is a type of surety bond required by the California Department of Motor Vehicles (DMV) when an individual seeks a replacement title but lacks sufficient ownership documentation.

WHEN IS A LOST TITLE BOND REQUIRED?

A lost title bond is required under the following circumstances:

1. Lost or Unreceived Vehicle Title: The title document has been lost, misplaced, or never received.
2. Errors or Missing Information: There are inaccuracies or incomplete details in the ownership records.
3. DMV Requirement: The DMV mandates a bond as part of the bonded title application process.

STEPS TO OBTAIN A LOST TITLE BOND IN CALIFORNIA

1. Determine the Bond Amount

The bond amount is set by the DMV based on the vehicle’s appraised value. Typically, it is 1.5 times the vehicle’s value. For instance, if the vehicle is valued at $10,000, the bond amount will be $15,000.

2. Contact a Surety Bond Provider

Reach out to a licensed surety bond provider. For example, Surety EZ, located in Los Angeles, offers a seamless application process.

3. Provide Required Documentation

Prepare and submit the following documents:

• Proof of purchase (e.g., bill of sale)
• Vehicle make, model, and year
• Vehicle Identification Number (VIN)
• Any additional DMV-required documents

4. Pay the Bond Premium

The bond premium typically ranges from 1% to 10% of the bond amount. For example, if the bond amount is $10,000, the premium will be between $100 and $1,000.

5. Receive the Bond Certificate

Once your application is approved, the provider will issue a bond certificate. This certificate must be submitted to the DMV as part of your bonded title application.

6. Apply for a Bonded Title at the DMV

Submit the following to the DMV:

• Completed Form REG 227 (Application for Replacement Title)
• Completed Form REG 256 (Statement of Facts)
• The Bond Certificate

By following these steps, you can successfully obtain a California lost title bond and ensure your vehicle’s ownership is legally recognized. If you’re navigating this process, working with a reliable surety bond provider can simplify your experience.