As of January 1, 2013, Florida now requires that individuals file a lost car titles surety bond with the state if they own a vehicle without a valid certificate of title.
This new requirement was established to keep individuals from obtaining vehicles illegally or participating in other unethical purchasing transactions involving vehicles.
The bond form reads as follows.
“Section 319.23(7), Florida Statutes, states, ‘If an applicant for a certificate of title is unable to provide the department with a certificate of title that assigns the prior owner’s interest in the motor vehicle, the department may accept a bond in the form prescribed by the department, along with an affidavit in a form prescribed by the department, which includes verification of the vehicle identification number and an application for title.'”
Furthermore, the bond amount must be “equal to two times the value of the vehicle as determined by the department.”
If you’re a Florida resident, you might need a lost car title surety bond for one of the following reasons.
- Your original title was lost, stolen or accidentally destroyed
- You paid for a vehicle but didn’t receive a title and can no longer get one from the seller
- You purchased a vehicle that is too old to have a title
- You have a custom-built vehicle
Although this bond requirement is new, it’s already gone into effect, so individuals who fall into one or more of the categories above must purchase a lost title surety bond to remain in compliance with state law.
You can purchase a Florida certificate of title bond online 24/7 or call 1(800)308-4358 to speak with a surety expert about your bonding needs.