What is a bonded title in Mississippi?
A Mississippi bonded title will allow you to claim ownership of your vehicle if you never received the original title or lost it before transferring it to your name. You can register, insure, and sell your car with a bonded title – a certificate of title with a surety bond attached. The surety bond is called a title bond (also known as a defective title bond, DMV bond, or certificate of title bond).
Bonded titles in Mississippi are active for three years and must be worth 1.5 times the current value of your vehicle. They protect anyone who may suffer financially if you aren’t the rightful owner, such as lienholders and previous and future owners of the car. If someone suffers loss because of you, they can file a claim against your bond to receive compensation. Your surety may settle the claim for you initially, but you must repay them in full.
What are lost titles?
A lost title is a little different than a bonded title. If your original car title was registered in your name, but you lost it, you can apply for a Replacement Certificate of Title with the Mississippi Department of Revenue (DOR). No surety bond is required in this case. Simply visit a local DMV, show proof of ID and vehicle ownership, apply, and pay a $9 fee.
Get Your Mississippi Title Bond:
- You can register, insure, and sell your car with a bonded title – a certificate of title with a surety bond attached.
- Bonded titles in Mississippi are active for three years and must be worth 1.5 times the current value of your vehicle.
- Mississippi title bonds are quickly issued, typically cost $100, and have a 3-year bond period.
Who needs a Mississippi bonded title?
You may need a bonded title in Mississippi if you never received a title when you bought your car. If your title was incorrectly assigned to you or you lost your original title before transferring it to your name, you may also need one.
The Mississippi Bonded Title Procedure
Here are the requirements for obtaining a bonded title in Mississippi. Start the process by contacting Motor Vehicle Services to ensure you need and qualify for a bonded title. If you do, the Bureau will tell you the appraised value of your vehicle, which you will use to obtain your surety bond.
1. Get a title bond.
Use the appraised value of your vehicle and multiply it by 1.5. That’s the bond amount you need. Then apply for a Mississippi title bond with a surety provider like ZipBonds. Here’s the application:
2. Apply for a certificate of title.
Fill out the following application and submit it along with your title bond to the Mississippi DOR.
3. Get your bonded title.
Once your application has been reviewed and approved, you should receive your bonded title in the mail.
These title bonds are quickly issued, typically cost $100, and have a 3-year bond period. After the bond expires, there is no requirement for the bond. You will be eligible for a standard certificate of title if no one has filed a claim against your bond.
Get a Mississippi Title Bond
The experts at ZipBonds can help you obtain the bond you need. To connect with one of our team members, please give us a call at 888-435-4191 or email us at firstname.lastname@example.org. We’ll walk you through the process for title bonds to help you get bonded in a flash.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.