How much does a motor vehicle defective title bond cost in Utah?
The cost of a motor vehicle defective title bond in Utah depends on the required amount of the surety bond. Bonds for amounts less than $6,000 are issued instantly without a credit check for just $100! Bonds for amounts between $6,000 and $25,000 are also issued instantly without a credit check, but at the rate of $15 per every $1,000 of the required bond amount. Bonds for amounts greater than $25,000 are subject to underwriting and will require a review of your financial history.
Why do I need a surety bond to title my vehicle in Utah?
The Utah Tax Commission may require individuals with defective titles or public insufficient evidence of ownership of a motor vehicle to post a surety bond in an amount twice the appraised value of the vehicle. Applicants must verify their required bond amount with the state prior to bonding.
Motor vehicle defective title or insufficient evidence of ownership bonds in Utah are put in place to indemnify any person, firm or corporation that might establish legal ownership of the vehicle in question at the time of the transfer of the title certificate. The bond serves as coverage for damages sustained or suffered as a result of the issuance of a title certificate for the vehicle.
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Terms of an insufficient evidence of ownership surety bond
Utah certificate of title bonds remain valid for 7 years from the effective date, and the bond does not need to be renewed. At the end of the bond term, the bonded title will be replaced with an original title. When purchasing your surety bond, be prepared to provide the vehicle’s year, make, model, body type and vehicle identification number (VIN), as this information is required on the bond form.
What to do if you have insufficient evidence of ownership in Utah
If you have a vehicle located in Utah that does not have a title, has a defective title or there is public insufficient evidence of ownership, you must submit the following to DMV/Miscellaneous Services at 210 N. 1950 W, SLC, UT 84134, or scan and email to [email protected]:
- Printed digital photos (prefer color) of ALL sides of the vehicle that clearly show the condition of the vehicle inside and out
- Completed Ownership Statement, form TC-569A containing:
- A complete explanation of facts explaining the absence of a negotiable title or current registration for non-title states
- How the vehicle was obtained and from whom
- A statement indicating any outstanding liens or encumbrances on the vehicle (if known)
- A statement indicating where (if known) the vehicle was last titled or registered
- A detailed description of the condition of the vehicle
- Any other information pertinent to the possession of the vehicle
- VIN Inspection
- Not needed when vehicle has a Utah registration
- Can be completed at any DMV branch office, a certified safety/emission station inspector or by a Utah law enforcement officer
- Any ‘Bill of Sale’ and/or Release of Ownership and other pertinent documents such as receipts for repairs
- A completed and signed TC-656, Application for Registration/Title form
- If vehicle was purchased, sales and use tax will be applicable. You will be notified of the amount due
- Surety bond
- If the vehicles value has been determined to be over $1000 and the Ownership Statement is incomplete and/or pictures justify that a bond is required, you will need to obtain a surety bond for twice the value of the vehicle.
- You will be notified if a bond will be required
The DMV will check to see if the vehicle is registered in another state or if it has been reported stolen. If the vehicle has been reported stolen, the Motor Vehicle Enforcement Division will be contacted immediately and this process will stop until further notice from MVED.