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Duplicate title ny6/5/2023 You remain responsible for the bond claims, though. If you wish to sell the vehicle before the 3 years is up, that is okay. If during those 3 years, no one comes forward and makes a claim against your NY Lost Title Bond then you can go to the DMV and apply for the “bonded” brand to be removed from your title. The “bonded” brand remains on the title for those 3 years, and you are responsible for any bond claims that might happen. Yes, NY Bonded Titles expire 3 years after their date of issuance. Still not sure how the bond claim process works? Check out this resource. If the surety company pays out any money, it is your responsibility to repay the surety. If the claim is determined to be valid, the surety company would either compensate the claimant for their loss, or return the vehicle to them. If someone comes forward later on and says they are the owner of the vehicle and you should not have been granted a bonded title, they can make a claim on your bond. When you purchase a surety bond for a bonded title, you are promising that you are the true owner of the vehicle. The bond protects the DMV and any previous owners of the vehicle. You are responsible for any claims against the bond. If your paperwork is approved, you will be issued a New York Bonded Title. You will need to provide proof of ownership (such as a canceled check or bill of sale) and pay a title fee. Mail your Application for Title and New York Lost Title Bond to the New York Title Bureau. Once you purchase your bond, the surety company will mail it to you. Surety Solutions, A Gallagher Company does not issue Certificate of Lost Title Bondsīefore you purchase your title bond – learn important payment info Many people only pay $100 for their bond. You won’t need to pay the full bond amount to get bonded. Make sure you apply for the correct bond amount that you determined in Step #4. Purchase a bond from a surety bond company. This is your bond amount.įor example, if your vehicle is valued at $2,000 then your bond amount will need to be in the amount of $3,000, but don’t worry this is not the price you will pay for your bond. Then, multiply this value by 1 1/2 times. If you didn’t get your vehicle value from the DMV, call them back and ask for your vehicle value. Take the vehicle value that you found out in Step #1 when you called the NY DMV. The following forms might need to be included in your application: Step #3: Complete any Other Necessary Forms Step #2: Complete Application for TitleĬomplete an Application for Title. The application will ask you for basic information, such as your vehicle’s VIN number, vehicle type, make, and color. Write down this value and move on to Step #2. If they say yes, be sure to ask them how much your vehicle is worth. So you should c ontact your local DMV, explain your situation, and ask if you could get a bonded title. While we, Surety Solutions, can provide you with guidance, we cannot say for certain if the DMV will accept a bond from you. Your local DMV is the only entity that can tell you if you are eligible for a bonded title or not. How to get a Bonded Title in NY Step #1: Contact DMV to make sure you are eligible Not sure if you need a NY Bonded Title? Check out this awesome infographic. The easiest and fastest way to get a duplicate title is to apply online, but you can also apply by mail or at your local DMV office. *If you had the original title in your name at one point in time but lost it, you can simply get a duplicate certificate of title.
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