If you do not have proof of ownership (a title) for your boat, motor vehicle, motorhome, mobile home, motorcycle or other titled property, you can provide the State of Georgia with a Certificate of Title Bond in order to replace your lost, stolen, damaged or defective title. You will be able to register your vehicle with this new title. The minimum bond amount required is $5,000.
The Georgia Department of Revenue requires a bonded title for individuals who cannot provide proof of ownership documents for their vehicle. The Georgia bonded title establishes who owns a vehicle when documents are lost, missing, or incomplete. In these situations, vehicle owners file a surety bond that provides financial protection in the event the original title is found.
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Georgia statute 40-3-28 requires residents who do not have adequate proof that they own their vehicle to purchase a surety bond prior to obtaining their duplicate title. The Georgia legislature enacted the bonding requirement to ensure that the rightful vehicle owner will receive compensation if the title applicant does not actually own the vehicle. The bond amount must be equal to twice the vehicle’s average retail value but cannot be less than $5,000.
Since the bonded title works the same as the original title, you now have proof of ownership of your vehicle.
The Georgia Department of Revenue
Georgia requires residents to purchase a surety bond as part of the application process to obtain 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 unethical means.
Georgia statute 40-3-28 dictates that the bond amount must be equal to twice the vehicle’s average retail value, but may not be less than $5,000. The Department of Revenue will determine the required bond amount during the title application process.
We do not conduct a credit check for bonds that are less than $25,000. At limits over $25,000, we will review your standing to determine the qualification and rates for the bond.
The Georgia Department of Revenue will require a title applicant to purchase a surety bond if the applicant cannot present the department with adequate proof that the applicant does in fact own the vehicle. Typically, lost title bonds are required for the following reasons:
A Georgia Lost Title Bond will not be issued unless all of the following conditions are met:
In Georgia, bonded title applicants should submit the completed bond form, including the power of attorney, to their local county tag office. The Georgia Lost Title Surety Bond requires signatures from both the surety company that issues the bond and the bonded title applicant. The surety company should include the following information on the bond form:
Georgia requires all motor vehicle owners to purchase auto insurance with the following minimum limits:
Bonded title applicants must purchase and maintain a surety bond in an amount equal to twice the vehicle’s average retail value, but not less than $5,000.
To avoid claims against their bond, bonded title applicants in Georgia must ensure that they are the rightful owners of the motor vehicle.