Mississippi Certificate of Title Bond

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Bond Penalty: One and one half times (150%) vehicle value

Purchase of a motor vehicle that an owner seeks to register in the State of Mississippi must generally file an unecumbered and endorsed original title. Where questions exist on the chain of ownership or the original title is lost or damaged, a Mississippi certificate of title bond can quickly remedy the title defect and allow registration.

§63-21-23 of the the Mississippi General Statutes provides that If the State Tax Commission is not satisfied as to the ownership of the vehicle, manufactured home or mobile home or that there are no undisclosed security interests in it, the commission may accept the application under specific circumstances. The applicant or a motor vehicle dealer may file with the commission a Mississippi vehicle title bond in the form approved by the Commission. The title bond must be signed by the applicant and executed by a person authorized to conduct surety business in the state. The surety bond must be in an amount of no less than one and one-half times (150%) the value of the vehicle, manufactured home or mobile home as determined by the Commission. The surety obligation must indemnify any prior owner and/or lienholder and any subsequent purchaser of the vehicle, manufactured home or mobile home or person acquiring any security interest against any expense, loss or damage, including reasonable attorney's fees, by reason of the issuance of the certificate of title on account of any defect in or undisclosed security interest upon the right, title and interest of the applicant in and to the vehicle or home. The Mississippi title bond is automatically exonerated and returned at the end of three (3) years unless the Commission has been noticed of an action to recover on the title bond. The Commission offers all of the forms required to process registration on its web portal here.

As part of the certificate of title bond underwriting process we must request some evidence that the applicant legally possesses the motor vehicle. Examples of "ownership evidence" can be a bill of sale, power of attorney, receipt, canceled check or money order, temporary registration/maker, affidavit of legal possession or endorsed copy of at title. Need a bill of sale format? See "What We Need From You" on this page for a template.

Mississippi surety bond leader, Surety One, Inc. is a specialist in the bonding needs of motor vehicle dealers and private parties with a vehicle title bond need. We offer same-day quotes and delivery of surety bonds. Questions about this surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat about your Mississippi certificate of title bond requirement.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.