If you wish you take legal ownership of a motor vehicle in Illinois and you have no title, an Illinois title bond is your easy solution. Illinois Code 625 ICLS 5/3, allows you to offer a title surety bond in an amount equal to or greater than one and one half times the wholesale value of the motor vehicle. The Illinois certificate of title bond indemnifies all prior owners and lienholders and all subsequent purchasers of the vehicle or persons acquiring any security interest therein, and their respective successors in interest, against any expense, loss or damage, including reasonable attorney’s fees, by reason of the issuance of the Certificate of Title for said vehicle or on account of any defect in or undisclosed security interest upon the right, title and interest of the owner in and to said vehicle. Illinois title bonds are inexpensive and good credit is NOT required. Surety One, Inc., will issue these for all applicants. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for an Illinois title bond application of for further information on surety bonding.
