What is a defective title bond?
If the original proof of ownership of a motor vehicle or other piece of property is lost or defective, in order to transfer ownership legally, a defective title bond must be secured by the current owner.
When the DMV / MVD refuses to register a vehicle due to a lost or “defective” title, one can post a bond to overcome the defect. DMV refers to the department of motor vehicles, but in some states, different departments regulate motor vehicles. Stratum Insurance Agency’s Surety Bond Team can help with different types of bonds, depending on the state.
People may refer to this bond by different names:
- Duplicate Title Bonds
- Defective Title Bonds
- Lost Title Bonds
- Salvage Title Bonds
- Certificate of Title Bonds