The Wisconsin Department of Motor Vehicles provides excellent guidance to the use of a Wisconsin title bond for the registration and titling of a vehicle purchased and/or received without proper ownership documentation or a complete chain of ownership. The statute offers clear guidelines for the surety bond. Chapter 342, Section 12, requires a title bond in on the Department's form, executed by the applicant and executed by a person authorized to conduct a surety business in the state. The surety bond must be in an amount equal to one and one-half times (150%) the value of the vehicle as determined by the Department. The bond must indemnify any prior owner and secured party and any subsequent purchaser of the vehicle or person acquiring any security interest in it and their successors, against any expense, loss or damage, including reasonable attorney fees, by reason of the issuance of the certificate of title for the vehicle or on account of any defect in or undisclosed security interest upon the same. The Wisconsin vehicle title bond must remain in full force and effect for five (5) years from issue unless the vehicle is moved and title out of state.
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.
Wisconsin surety bond leader, Surety One, Inc. is a specialist in the bonding needs of motor vehicle dealers and private parties with a title defect. We offer same-day issue of vehicle title bonds. Questions about this or another surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat about your Wisconsin vehicle title bond requirement.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.