| 35gal | -- 08-31-2011 @ 9:54 AM |
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There is a a name applied to a title that you can get when there is a problem with it. Like maybe a mistyped letter where it should have been a 2 instead of a Z. I’m going by memory but it was discussed on the forum before, maybe by supereal. I think you pay some sort of a fee and if there is no one to come forth and question it, the title (car) is yours. Can someone help, thanks
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| CharlieStephens | -- 08-31-2011 @ 10:02 AM |
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You are probably thinking of a "bonded title". You place a bond with the state and if no one else claims the car the bond is returned after a couple of years. Insurance companies frequently issue bonds. Maybe the same guys that issue "get out of jail" bonds do this but I don't know. I used a bank CD with the name of the California DMV as primary owner a few years ago (I forget the exact details). After a couple of years they signed off the CD and I got it back with interest. Charlie Stephens
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| supereal | -- 08-31-2011 @ 1:24 PM |
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A "bonded title" is issued by the DMV. Here, in Iowa, the bond is quite small, and refunded after a time period. Having a legitimate title is important, but if there is a typo or other minor flaw, be sure that the actual title, not the registration slip carried in the car, is correct. The bonded title is a kind of insurance in the event someone lays claim to the vehicle. You keep the car, they get the bond. The less fussing you do with a title, the better. Otherwise, generating a whole new title opens a whole set of problems.
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| 51f1 | -- 09-01-2011 @ 1:03 PM |
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What would you guys do if you wanted to buy an old car from someone in Georgia? Georgia did not issue titles for cars built in 1962 or earlier, and they will not issue titles for them now. They will only issue titles for vehicle built after 1962. Just curious. Richard
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| ford38v8 | -- 09-01-2011 @ 1:58 PM |
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Richard, maybe that's why we see half a dozen rustbuckets out back of the barn in all the movies. Californios are too skeptical to buy them, Oregonians are sure they were stolen, Texans have plenty of their own, and New Yorkers have no use for them unless they are drivable. Alan
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| flatheadfan | -- 09-01-2011 @ 2:09 PM |
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Richard- I did exactly that (buy a 1940 GA car without a title). To satisfied the Michigan title requirements, I needed a notarized sale sheet with a serial number from the seller, a photocopy of the current seller's registration and a security bond for twice the purchased price from a license bonding company (cost me about $250). That was it. No inspection was required. Ten days later I had a valid Michigan title. It sounds complicated but it was really simple. However, different states have different laws so best to check with your state's DMV. Go to the online source NOT your local DMV (the locals can get confused easily). Tom
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| supereal | -- 09-02-2011 @ 7:58 AM |
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I'm sure that the attitude and services of the DMV's vary widely from state to state. Here, in Iowa, we are fortunate that our DMV has been more than helpful in sorting out title problems. The only times they get hard nosed is when someone tries to pass off incomplete or bogus documentation. Anyone who buys a vehicle without proof of valid title is buying trouble. I've seen it too many times to think otherwise.
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