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Old 02-03-2016, 01:47 PM   #14
chopit
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Join Date: Aug 2015
Location: Gravette Ar
Posts: 296
Re: Title issues in texas

I actually have kind of the same situation with my most recent purchase. Only difference being I have a 53 engine and a split window cab with no vin and year unknown that I could care less what year it is because its split window so 53 is fine with me. Just got off phone with contact at state police and no problem with title to engine block # here on bonded either.

Roughly $250 for bond.

On reselling a vehicle with bonded title I think there is a misconception as I just spoke to my contact at DMV in Little Rock. She said this is the way it works in AR and she would think anywhere else as a bond is a bond:

The bond is just an insurance policy that you buy and stays in your name on record with the DMV against future ownership claims. The title comes back from DMV as a clear regular title. No different than any other title. It is transferable to a buyer from the day it is in your hand.

The bond on the other hand is a separate legal instrument that stays in your name to protect you and any future owner for the 3 years of the bond against claims. If there is a claim, you, not the next owner would be represented and protected in court with the bond and if the claimant were to win the case the bond (which is insurance) would pay out by your insurance company that wrote the bond.

As always check with your own state however insurance works the same nationwide and that is all a bond is. You pay the premium and you are covered. After x years (3 in AR) no claims can be made and bond (insurance) expires.

(I would be curious to here from someone that has bonded in another state as to whether their title actually has the word bonded anywhere on it)
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