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What is a Mississippi certificate of title bond?

Mississippi statute 63-21-23 requires residents who do not have adequate proof that they own their vehicle to purchase a surety bond prior to obtaining a duplicate title. The Mississippi 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 will be active for three years from the date of issuance and must be in an amount equal to one and a half times the vehicle’s value.

How much does a Mississippi title bond cost?

Mississippi title bond costs start at $100 for the state-required 3-year term. The exact cost will vary depending on the surety bond amount required by the Mississippi Department of Revenue.

• Bond amounts from $1,000 to $50,000 cost $15 for every $1,000 of coverage, starting at $100.
• Bond amounts over $50,000 must be reviewed by an underwriter for pricing, starting at $750.

The Mississippi Lost Title Bond costs either $100 or 1.5% of the bond amount, whichever is greater (rates may vary for bonds greater than $25,000).

How do you obtain a Mississippi certificate of title bond?

You can purchase your Mississippi title bond online 24/7. You must provide the following information for Department of Revenue approval.

• vehicle owner name
• address
• vehicle identification number (VIN)
• vehicle year, make, model, and body type
• cylinders
• new or used

Once your order is processed, your official title surety bond documentation will be emailed to you instantly.

Who is Required to Purchase a Bond?

The Mississippi Department of Revenue requires title applicants to purchase a surety bond if the applicant cannot present the department with tangible proof that they own the vehicle and if the department does not have an ownership record of the vehicle. Typically, lost title bonds are 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

Why is a Mississippi certificate of title bond required?

Mississippi Code Section 63-21-23 requires a lost title bond to be provided for vehicle registration when an individual is missing their official vehicle title. This code (also known as the “Mississippi Motor Vehicle Title Act”) specifically requires a Mississippi title bond to be filed with the state before an individual applies for their bonded title. The purpose of these bonds is to provide a security interest when vehicle ownership cannot be verified and a replacement title has been requested.

This title surety bond protects prior owners, prior lien holders, and future purchasers from expenses, losses, or damages resulting from certificate of title issuance. By filing the bond form, the vehicle owner verifies they legally own the vehicle. If the original title is found and a valid claim is made against the bond, the insurance company will pay losses up to the full bond amount. The vehicle owner must then reimburse the insurance company for claims paid.

Please note this bond only allows a duplicate title to be issued for a vehicle. If you plan to sell used vehicles, a separate Mississippi designated agent bond is required.

Who regulates registration for vehicles missing titles?

The Mississippi Department of Revenue enforces registration requirements for all vehicles in the state, including those missing official titles. Questions about getting bonded titles in Mississippi should be directed to the Title Bureau at 1(601)923-7200.

How do I determine my bond amount?

Mississippi law requires the title surety bond amount to be 1.5 times the value of the vehicle, manufactured home, or mobile home as determined by the Department of Revenue. If you need help determining your exact required bond amount, contact the Department of Revenue before purchasing your lost title bond.

Is a Credit Check Required for the Mississippi Lost Title Bond?

How do I update or change my bond form?

If the Department of Revenue requires any updates to your bond documentation, contact your surety provider.
The most common changes for these bonds include:

• vehicle information
• owner’s name
• owner’s address

Does your Mississippi bonded title expire?

Yes, your Mississippi certificate of title bond will expire after 3 years. It will not need to be renewed after its original 3-year term.

How do I Apply for a Bonded Title in Mississippi?

To apply for a bonded title, complete the following steps:

1. Contact the Department of Revenue
   Bonded title applicants in Mississippi must contact the Department of Revenue at (601) 923-7640 prior to purchasing a surety bond. Mississippi does not require all title applicants to obtain a bonded title, and usually only does so as an absolute last resort. Title applicants should ensure that they actually need a bond before purchasing one. The DOR will also guide title applicants through the process of determining their vehicles’ value.
2. Purchase a Surety Bond
   After receiving confirmation from the DOR, bonded title applicants must purchase and maintain a surety bond in an amount equal to one and a half times the vehicle’s value.
3. Complete the Application
   All Mississippi title applications should be mailed to the following address:
   Mississippi Department of Revenue
   Motor Vehicle Services
   P. O. Box 1383
   Jackson, MS 39215-1383Pay your application fee, which is $9 for Replacement Certificate of Title Form Application 78-006 or $39 for FAST TRACK Replacement Certificate of Title Form Application 78-026. Standard applications are typically processed within 10 to 14 days of DOR receipt. FAST TRACK applications are typically processed within 72 hours of DOR receipt. Your original application will not be returned, so make a copy for your reference before mailing.

How Do Mississippi Bonded Title Applicants File Their Bond?

In Mississippi, bonded title applicants should mail the completed bond form, including the power of attorney, to the following address:

Mississippi Department of Revenue
Motor Vehicle Services
P. O. Box 1383
Jackson, MS 39215-1383

The Department of Revenue only accepts bonds filed within 30 days of their effective date, so file your car title bond as soon as possible after receiving it from your surety provider.

The Mississippi 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:

• The legal name entity/individual(s) buying the bond
• Surety company’s name, address, and phone number
• Bond amount
• Vehicle information
• Date the bond goes into effect

What Are the Insurance Requirements for Bonded Title Applicants in Mississippi?

Mississippi requires all motor vehicle owners to purchase auto insurance with the following minimum limits:

• $25,000 per person
• $50,000 per accident
• $25,000 property damage per accident

Bonded title applicants must purchase and maintain a surety bond in an amount equal to one and a half the vehicle’s value.

How Can Mississippi Residents Avoid Claims Against Their Lost Title Bond?

To avoid claims against their bond, bonded title applicants in Mississippi must ensure that they are the rightful owners of the motor vehicle.