If you are a Wisconsin resident and don’t have sufficient evidence of ownership, a bonded title can be an effective way to get a vehicle title.
What is a bonded title?
A bonded title is a brand of vehicle title that is available when the vehicle owner does not have sufficient evidence of ownership such as a signed certificate of title or prior title with their name. The vehicle owner is required to purchase a surety bond, also known as a title bond, to secure their claims to ownership. The title bond is required because, in a bonded title process, the DMV or comparable agency is essentially taking your word that you are the legal vehicle owner. The value of the bond comes into play if there is a discrepancy in ownership after the bonded title is issued.
Requirements for a Wisconsin bonded title
- Wisconsin Title & Plate Application (MV1)
- Application for Bonded Certificate of Title (MV2082)
- The vehicle is operable
- The vehicle is not branded as junk
How to get a bonded title in Wisconsin
To get started on the bonded title process in Wisconsin, make sure that your vehicle meets the above requirements and that you have obtained the necessary official documents. If your vehicle is eligible, complete the required official forms in their entirety, have them notarized, and submit them to your local Wisconsin DMV location.
After submitting, the Wisconsin DMV will look over your application and run a title search to determine the prior owner of the vehicle. If an active title record is found in the Wisconsin database, you must request the official motor vehicle records and contact the registered owner of the vehicle. If an out-of-state title record is found, the DMV will tell you the last titled state and you will have to request the motor vehicle records from that state to make contact with the registered owner. If no active title record is found, you may proceed with your bonded title application.
If no title record is found in state or out of state, the DMV will inform you of the bond value to purchase. Do not purchase a title bond until you’ve received confirmation from the DMV. Title bonds are nonrefundable. Most DMVs will calculate the value of the bond based on the value of the vehicle. While many surety bonds are valued at $10,000+, most of those bonds only cost around $100-$200 to purchase.
Once all of the above steps have been taken and the title bond has been purchased, you can then submit all of your ownership documents, official forms, and photos to the DMV to issue your bonded title.
A bonded title is a very valuable alternative method to getting a vehicle title. After receiving your bonded title, the certificate will have BONDED stamped across the top. After 5 years of having this title brand, you will be able to remove it from your title record to give your vehicle a clear title.
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CarTitles.com takes the hassle out of applying for a title for your vehicle. Our team of title experts can help prepare your paperwork for your Wisconsin bonded title or any other title recovery method provided.