Under certain limited circumstances a Missouri title bond can facilitate your request for a replacement lost or defective motor vehicle title. The statute is very specific about when a bonded title can be reissued (301.192). When application is made for a certificate of ownership for a motor vehicle or trailer “seven years old or older” and the value of vehicle does not exceed “three thousand dollars”, for which no record of any prior application for a title exists in the records of the director of revenue or for which the records of the director of revenue reflect incomplete documentation of ownership, the director may accept a Missouri title bond and issue a certificate of ownership. The applicant must submit a certificate issued by the Missouri state highway patrol, or other law enforcement agency as authorized by the director of revenue verifying the vehicle’s identification number and a determination that the vehicle has not been reported stolen in Missouri or any other state along with the Missouri certificate of title bond. The surety bond must be issued by a person authorized to conduct surety business in Missouri and written in an amount equal to two times the value of the vehicle as determined by the Kelly Blue Book, NADA Used Car Guide or two appraisals from licensed motor vehicle dealers. The Missouri title bond must indemnify any prior owner or lienholder and any subsequent purchaser of the vehicle or person acquiring any security interest in the motor vehicle, and their respective successors in interest, against any expense, loss or damage including reasonable attorneys fees, by reason of the issuance of the certificate of ownership of the vehicle or on account of any defect in or undisclosed security interest upon the right and/or title in and to the vehicle. Any interested person has a right of action to recover on the Missouri vehicle title bond for any breach of its conditions. The surety bond shall be returned at the end of three years, unless the department has been notified of the pendency of an action to recover on the bond. National surety leader, Surety One, Inc. offers a seven line title bond application and same day issue/shipping of your title bond. The facts surrounding your title issue don’t matter. We will offer you bond terms regardless of your situation. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a Missouri title bond application or for further information about surety or title bonds.
