How much does a motor vehicle defective title bond cost in Utah?
The Utah Tax Commission requires individuals with defective titles or insufficient evidence of ownership of a motor vehicle to post a surety bond in an amount equal to twice the appraised value of the vehicle. Applicants must verify their required bond amount with the state prior to bonding.
SuretyBonds.com issues these 7-year bonds at varying costs depending on the required bond amount. 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.
Why do I need this bond?
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.
Don’t get hung up on the confusing details of your surety bond! Save time and buy your bond online today.
Planning on selling vehicles to the public? Get more information on Utah vehicle dealer bonds here.
What’s the fine print?
Utah certificate of title bonds remain valid for 7 years from the effective date.
The following information is required on the surety bond form:
- the vehicle’s year
- the vehicle’s make
- the vehicle’s model
- the vehicle’s body type
- the vehicle’s vehicle identification number/VIN
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