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Hot Rods Bonded title

Discussion in 'The Hokey Ass Message Board' started by coololdcars, Oct 7, 2015.

  1. Can I sell my car in NC with a bonded title? I just got it a couple months ago. I've heard some states require a 2 or 3 year waiting period!!!
     
  2. In AZ a bonded title last for one year and then it becomes a regular title.
    Check with your dmv and ask your question.
     
  3. The information you need can be found here. HRP
     
    • The bond will remain on file with the Division for three years. Does that mean I can't sell it?????
     
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  4. Jon SSS
    Joined: Jan 29, 2009
    Posts: 405

    Jon SSS
    Member

    I think you can buy and sell anything you like. The three year waiting period is to get the title in your name. The money you spent on the bond will be down the toilet and the new owner will need to start from day one, three year waiting period to get the title in the new owners name. Sign off all documentation on your end to cover your interests. That is the way it works here in Washington. Seems like the same rules apply. My 2 cents. Good luck-
     
    Hot Rod Nut likes this.
  5. Hnstray
    Joined: Aug 23, 2009
    Posts: 10,759

    Hnstray
    ALLIANCE MEMBER
    from Quincy, IL

    If all the above BS were true, there would be no point in having a bond in the first place.

    Think about it. What is the point of the Bond? It is THIS....to compensate a potential claimant
    of the vehicle in question, should one appear during the time specified by the State....typically three years. The claimant DOES NOT get the car back...he/she gets the bond, which is based on the value of the vehicle at the time it was acquired and bonded. The bond protects both the State and the person to whom the title was issued. The bonding company indemnifies the State against such claims and the bond remains in effect regardless of what happens to the vehicle after the title was issued.

    The title does not carry any conditional provisions....it's a title......free and clear (unless it has a lien from a lender)...and the title holder can keep, restore, modify, sell, mortgage or crush the vehicle with impunity.

    I have acquired a bonded title twice, once about 25 years ago and the second just in the past few weeks.

    Flame away!

    Ray
     
  6. Nostrebor
    Joined: Jun 25, 2014
    Posts: 753

    Nostrebor
    ALLIANCE MEMBER

    Yes, this is the logical progression of how a bond is supposed to work. With that said, state law and logic don't always cross paths, so check your state statutes for a clear understanding of what the law requires.

    I have a bonded title truck in Missouri. The title came to me free and clear. I do not know how North Carolina works.
     
  7. I had to get a 3 year bond and an NCDMV assigned VIN in 2012... The actual NC Title issued at that time was clear , in my name , and not marked "bonded".... This year I received the bond document back from NCDMV , stating that it was no longer necessary for them to have it on file... So it appears,that at anytime during the 3 years I could have sold the car with the title I had and had no problem...and NCDMV would have only been protected during the time the bond was in effect (2012 - 2015)
     
    Last edited: Oct 8, 2015
    rockable likes this.
  8. I'm only replying because I had to get a bonded title for the roadster I used to own. The bond is needed and required by the state to settle ownership issues in the future, ( in Wisc. the future is limited to 3 years ). Once the bond is issued and a title issued in your name the entire burden is with the bond company. Bonds are typically for 3 years after which time no claims can be made against the bond company for ownership. During that 3 year period you can do whatever you want with the car, if you sell it the bond will transfer over until the original bond expires. I don't believe there is a fee for the bond at transfer, at least not in Wisc. As was stated, call your DMV and get the right information from them, you'll feel much better in the morning, rather than trusting 14 different opinions here.
     
  9. 5window
    Joined: Jan 29, 2005
    Posts: 6,816

    5window
    Member

    Since you're still drinking beer, perhaps you will sometime realize after reading HP's post that your first step should have been to contact your state DMV since they not only will have the answers but they'll also make the decision. Lots of us have stories, but only the NC guys have relevant information for their state. Good luck.
     
  10. Aww, don't get all yer panties in a wad 5 window. The DMV guys here are more than a little tough to work with. I just thought maybe a local would chime in with his/her experience ( which they did ) to save me the hassel with dealing with them.........BTW whats wrong with beer?????
     
  11. blowby
    Joined: Dec 27, 2012
    Posts: 5,974

    blowby
    Member
    from Nicasio Ca

    BUMP. Been reading a bit on these. As I understand it, the bond protects the state and previous owners in the event of a claim against the vehicle. So it is of no value to the new title holder? Or does it facilitate getting a title for a vehicle with no title? Is it something the DMV makes one get? Under what circumstances? I've gotten titles without a previous and not needed a bond. Yes, I could call the DMV but like to hear from someone who has done it, California if possible.
     
  12. Saw this pop up again. The car I bonded was sold about a year later. It went to PA and as far as I know the new owner had no problem registering it, never heard from him anyway. As far as I know it was only protecting me, as I was the one that had to renumber the car, so I suppose the claimant would be knocking on my door. And its good for three years, I just got a note from NCDOT that the bond was expired. Now I'm in the same boat as far as getting a bond, as the inspector could not find the original serial number on the frame of my truck, even though its in 2 places on the body !!!! He says sorry, NC is a frame state, gotta have numbers there.........
     
  13. blowby
    Joined: Dec 27, 2012
    Posts: 5,974

    blowby
    Member
    from Nicasio Ca

  14. 5window
    Joined: Jan 29, 2005
    Posts: 6,816

    5window
    Member

    California is all that counts. All the rest are speculation or a different state,territory or commonwealth.
     
  15. Rramjet1
    Joined: Mar 13, 2018
    Posts: 69

    Rramjet1

    I always thought bonded titles were only used in guaranteed title states.


    Sent from my iPad using The H.A.M.B. mobile app
     
  16. carolina chevrolet
    Joined: Nov 14, 2018
    Posts: 36

    carolina chevrolet
    Member

    In order to get a bonded title in NC, a DMV inspector has to come out and look at the car, inspect any and all data plates, body tags, frame numbers, etc.
     
    55hdyman likes this.
  17. GordonC
    Joined: Mar 6, 2006
    Posts: 1,617

    GordonC
    ALLIANCE MEMBER

    I just went through this this morning here in NC. I have a Brookeville bodied 1931 Ford roadster on reproduction frame rails. No numbers anywhere. The process I am going through is to fill out their affidavit statement of facts (MVR-92H) on how I got the car/body and got it notarized. It then has an inspection by the DMV theft and loss inspector for my county, which I had this AM. He takes pictures of the car and copies of any documents you have, your license number, and files a form (LT-270) saying it was inspected. If no problems arise you get a VIN assigned within two weeks and he comes out to your house and applies the VIN tag to your car. Once that VIN is assigned you then apply for a bond to protect NC in case the vehicle was stolen and they missed it (MVR-92D). The bond stays on file with the state for 3 years. Also, once you have the VIN you can then apply for a title (MVR-1) and register the car for the road. You will need 2 separate appraisals done for tax purposes. They take the higher of the two to calculate sales tax from if they cannot find your vehicle in the standard car books such as KBB and so on... It could then take up to 45 days for a title to be issued. I asked the inspector how the title would be worded and he said it will say 1931 Ford Model A Replica, which is fine by me. He said the problems occur when somebody wants a new reproduction body or frame to be titled as an original old car when in fact it isn't. All of the info above is outlined on form MVR-92A and you simply follow their process. I have heard countless horror stories about getting titles in various states but to be honest here I was only with the inspector for about 40 minutes. A nice guy just doing his job. Didn't bust my balls. Asked me questions about the car, checked my paperwork, which I made sure was done correctly in advance of our meeting, and was straight forward and easy to deal with. The bottom line is the state wants your money and they will help you to give it to them if you follow their process!

    This might not answer the original question about if a person can sell a car that is on a bonded title, but hopefully it will help out the folks wondering about the process and how painful it might be.
     
  18. 1946caddy
    Joined: Dec 18, 2013
    Posts: 1,500

    1946caddy
    Member
    from washington

    When I got a bonded title to my 42 Dodge several years ago, they told me I could sell the truck but the new owner had to wait the remaining time on the bond to get the title.
    (a) Owners releasing interest in a vehicle with a bonded title or three-year registration without title must provide a release of interest described in WAC 308-56A-265;
    (b) The new owners must submit an application for title as described in this chapter and complete the time remaining on the current ownership in doubt period.
     
    Last edited: Nov 12, 2019
    5window likes this.
  19. Chgo Sox Fan
    Joined: Apr 16, 2019
    Posts: 4

    Chgo Sox Fan

    I think the real question is this, if you have a bonded title ARE you going to find a willing buyer.
     
  20. Mr48chev
    Joined: Dec 28, 2007
    Posts: 25,639

    Mr48chev
    ALLIANCE MEMBER

    I have never heard of anyone having someone show up and lay claim to a car that they have a bonded title on because they found the title to "grandpa's old car" in a drawer full of papers when they sorted though everything when they cleaned out the house after grandpa didn't need it anymore. Even then the title would have to be run though the DMV and someone would have to dig though the archives to see that it is still a good title.
    I'd far rather deal with a Bonded title than a title I knew was bogus because I had used an old title I bought from a title seller or I had used one of the less than stellar create a title outfits. The bond says you jumped though all the flaming hoops and tried to do it right rather than cheat and if someone showed up claiming it was theirs they still have to prove that it was theirs. Probably about the only chance of that is if the car was reported as stolen years before and the vin pops up on a national database.

    I'm not sure if this will work but it is the page on NC title bonds. https://www.ncdot.gov/dmv/downloads/Documents/MVR-92D.pdf
     
    GordonC likes this.
  21. GordonC
    Joined: Mar 6, 2006
    Posts: 1,617

    GordonC
    ALLIANCE MEMBER

    ^^^ I agree with Mr48chev. It shows you have done the leg work to get it taken care of properly as opposed to buying "collector paper" and claiming it belongs to the car you are trying to sell.
     

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