If you are trying to title your vehicle in Florida, but find that you are missing important ownership documents, a bonded title may be a valuable alternative method to title your vehicle.
What is a bonded title?
A bonded title is a type of title recovery method that requires the purchase of a surety bond, also known as a vehicle title bond, to secure the ownership of the vehicle. This is because in order to receive a bonded title, you must have a major lack of proper documentation. The DMV in your state is essentially taking your word that you are the owner of the vehicle. The vehicle title bond provides security for the DMV to assign the ownership in the event that there is an ownership discrepancy after the bonded title is issued.
What official documents are needed to get a bonded title in Florida?
To get a bonded title in Florida, you must provide the following completed official documents to your local DMV:
- Application for Certificate of Title With/Without Registration (HSMV 82040)
- Vehicle Identification Number and Odometer Verification (HSMV 82042)
- Affidavit to Accompany Application for Bonded Title (HSMV 82026)
- Title Surety Bond For A Motor Vehicle (HSMV 82033)
VIN verification and odometer verification
To apply for a bonded title, Florida law requires that the vehicle identification number (VIN) and the odometer be verified. The number on the odometer of the vehicle must be accurately reflected on this form. Federal and state law requires that this information be accurate and failure to provide accurate information may result in fines and/or imprisonment.
VIN verification requires a physical inspection of the VIN of the vehicle. This is an official process and must be completed by an authorized agent such as a Florida licensed dealer, law enforcement officer, military police officer, or the Florida Compliance Inspector. VIN verification is required to ensure that the vehicle is permitted to be titled under federal and state laws. Certain VINs or replacement parts may be found in the NMVTIS database and are unable to be titled if the vehicle was rebuilt or previously damaged.
Title Surety Bond For A Motor Vehicle (HSMV 82033)
This document must be completed by the surety company that issues you your vehicle title bond. The bond amount needed for Florida is 2x the value of the vehicle. This doesn’t mean that if your vehicle is worth $5,000 that you’ll have to pay $10,000 to get a title. Most vehicle title bonds cost a fraction of the actual value, typically at around $100-$200. The reason that applicants are required to purchase a bond with such a high value is that if there is a true discrepancy in ownership, the terms of the bond may cause you to pay the full amount to cover any damages.
How do you obtain a title bond in Florida?
A title bond can be purchased by any surety bond agency that is permitted to sell vehicle title bonds in Florida. Our partners at ProBonds.com are experts at providing vehicle title bonds and can issue title bonds for vehicles in Florida.
A Florida bonded title is a very valuable method to obtain a vehicle title if you are missing ownership documents.