In this article, We’ll explore how to get a bonded title in texas. Whenever a purchase of a car is made in the state of texas, Proper documents need to verify the ownership of the car. If proof seems insufficient or incomplete the vehicle owner would need to produce a document called bonded title. A bonded title is the same as the original title, The only difference here is the owner needs to get a surety bond. You can follow the below steps to get your bonded title and get back on the road.
1) Ruling out the opportunity for the original title
Before you apply for a bonded title, You must check if you are eligible for the original title. You can do the same by visiting your local TDMV office. Once, You are there try to persuade them about your documents. But if they persist onto insufficient documents. Follow the below steps:
2) Document Are Essential
After you decide to go for a bonded title, You would be required to submit documents to your local TDMV office, With an Application fee of $15. You can pay the amount through cheque, money order, or even cash. Here is the list of documents that you need to require for your application.
1) Statement fact for your bonded title.
2) Invoice, Bill, anything that supports your purchase.
3) A photo ID of yours.
If you are from the state of Texas, But the vehicle is not from the state, Then you must verify the VIN of your vehicle with the Texas certified Safety Inspection Station.
3) Await your bonded title approval
Once, You have applied your documents and have correctly filled the application form. Allow the TDMV to verify your details, And approve your bond. Once your bond is approved by the TDMV, You will be issued a rejection letter. That will include information regarding your surety bond, They would require your lien to be less than 10 years, In case it’s more than that. The likelihood of you getting a surety bond decreases significantly.
4) Buy Surety Bond
After your bond approval, The TDMV will give you an estimate of the surety bond that you must purchase. That is in most cases around 1.5x the total value of the car. You need to buy a surety bond from the agent, And according to the amount of bond, You would get the premium for it. Once, You have calculated the whole of the premium of your surety bond. The bond will then be sent to your physical address, Here, You need to put your signature onto it.
5) Finally, Get Your Bonded Title
Once, You have got the physical bond at your mailing address. Now, You have to sign the same; And send the document to the county tax office, Within 30 days of the time that you receive the bond. You shall also include any additional documentation that you may want to attach as proof. For more information, You can contact your local TDMV office for document requirements. Once, Your application is approved you will get a bonded title. A bonded title is valid for 3 years, After which it is automatically converted to the original title.