04 Mar Nevada Bonded Title
Nevada requires residents to obtain a surety bond as part of the application process for a bonded title. The bond ensures that the rightful vehicle owner will not suffer a financial loss if the title applicant is seeking to obtain the title fraudulently. If the title applicant is engaging in fraud, then the rightful vehicle owner can file a claim against the bond and receive compensation up to the full amount of the bond. In short, the bond acts as a safeguard against people attempting to obtain ownership of a vehicle through questionable means.
Bought a Vehicle Without A Title?
The Nevada Department of Motor Vehicles requires title applicants to purchase a surety bond if the applicant cannot present the department with tangible proof that they own the vehicle and are unable to contact the vehicle’s previous owner. Lost title bonds are typically required for the following reasons:
The vehicle has never been titled
The applicant never received the title
The previous owner never titled the vehicle
The applicant has the title but there is an error in the title transfer
The applicant purchased an unclaimed/abandoned vehicle and is not a bonded agent
nevada bonded title application process
You must be a Nevada resident and the vehicle must be located in the state of Nevada.
Applications are not accepted at DMV Field Services offices and must be processed in Carson City
Bonded vehicle titles are processed by the Title Research Section. Affidavits and forms are available through Title Research Department.
Do not purchase a bond before receiving documentation from the NVDMV authorizing the bonded title and the bond amount required.
Please use traceable mail or a service that tracks your package. You may wish to use certified or registered mail when sending original documents.
The title will be mailed to you once issued or to the lienholder, if any. Dealers and financial institutions are required to use the DMV’s Electronic Lien and Title system.
Once the title has been issued, you may register the vehicle. All apply. If the title is issued on a salvage vehicle, you must follow the to rebuild the vehicle before it can be registered or sold.
What are the steps in the process?
Contact the Department’s Title Research Section (775) 684-4810, 8:00 am to 1:00 p.m. only.
Complete parts 1 and 2 of the Affidavit for Bonded Vehicle Title (VP 271). Vehicle inspections may be completed at , by a sworn law enforcement officer or by a business authorized by the DMV in accordance with NRS 482.220.
Send the Affidavit for Bonded Vehicle Title (VP 271) and copies of all ownership documents to the Title Research Section.
The Department will conduct a vehicle theft and brand history search.
The Department will calculate the bond amount based on the original Manufacturer’s Retail Price (MRP).
The Department will return the bond amount, listing of required documents and any additional requirements.
Obtain the bond and complete the Vehicle Bond Affidavit (VP 272).
Complete all areas in full, either typed or printed in ink.
Part 4 of the Affidavit for Bonded Vehicle Title (VP 271) must be notarized or witnessed by an authorized DMV employee.
Return all original documentation and fees to the Title Research Section in Carson City.
Nevada Department of Motor Vehicles
Title Research Section
555 Wright Way
Carson City, NV 89711
Bond Requirements
The bond must be:
Executed by the applicant as principal and by a corporation qualified under the laws of Nevada as surety;
In an amount equal to one and one-half times the value of the vehicle Manufacturer’s Suggested Retail Price (MSRP) or 25% of MSRP if a salvage vehicle; and
Conditioned to indemnify any:
Prior owner or lienholder of the vehicle, and his or her successors in interest;
Subsequent purchaser of the vehicle, and his or her successors in interest; or
Person acquiring a security interest in the vehicle, and his or her successors in interest, against any expense, loss or damage because of the issuance of the certificate of title or because of any defect in or undisclosed security interest in the applicant’s right or title to the vehicle or the applicant’s interest in the vehicle.
The bond that is purchased for the bonded title must be in force for three (3) years even if the vehicle is sold.
Any claim of ownership for the vehicle is referred to the bond company for review and decision. The DMV does not make any designation/decision on claims against the bond. If a claim against a bond is denied, the claimant must proceed via civil court.
Court Notification
Bonded titles are an alternative to court rulings on ownership of vehicles. The following is a notification sent to Nevada courts:
Passed and approved during the 2017 Legislative Session, Senate Bill (S.B.) 452 set forth a new bonded titling process for those individuals or entities who are unable to provide the Department of Motor Vehicles (DMV) with sufficient documentation of ownership to issue them a vehicle title. In years past, it was customary for the DMV to receive a petition for a writ of mandamus from a person in these circumstances seeking that the court issue an order declaring them the owner of the vehicle and asking the court to order the DMV to issue them a vehicle title. As a result of the passage of the S.B. 452 bonded title process, there is now a statutory provision authorizing the DMV to issue a bonded vehicle title to a person in these circumstances. The following information highlights newly effectuated policies emanating from the passage of S.B. 452.
Signed into law on June 5, 2017 and becoming effective on July 1, 2018, S.B. 452 made changes to Chapter 482 of Nevada Revised Statute (codified as NRS 482.2605). As written, S.B. 452 provides the DMV with the statutory authority necessary to issue a new “bonded” certificate of title in situations wherein the constructive owner of a vehicle is unable to satisfactorily demonstrate to the DMV they possess legal ownership of a vehicle. Previously, the DMV required a court order before it would issue a vehicle title. However, this new streamlined process, is an optional service and means of acquiring ownership documents directly from the DMV.
Those seeking a bonded title must be residents of Nevada; in addition, the vehicle must also be located within the borders of the state. The amount required to bond is based on one-and-a-half times the original Manufacturer’s Suggested Retail Price. Bonded titles issued in connection with this process, carry a brand indicating the vehicle has a bond associated with the ownership interest. Once executed, the bond is required to remain in force for a period of three years. Upon successful completion of the waiting period, the brand and bond requirements will be lifted and a new title, without the brand, may then be requested.
It’s important to note, subsequent transfers of ownership during the bonding period may prove restrictive. Should a claim be filed against the bond, all such claims will be referred to the respective bonding company for a review and decision. The DMV does not hold the bond and the DMV will not make any designation and/or decisions regarding claims against a bond.
Bonded vehicle title transactions cannot be processed by the DMV’s field service locations; however, transactions can be facilitated by the DMV’s Title Research Section in Carson City.
Sorry, the comment form is closed at this time.