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 New Mexico 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.
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New Mexico Statutes Section 66-3-24 requires individuals who own vehicles with missing titles to file a surety bond to verify ownership as part of the vehicle registration process. The vehicle title bond protects the state, lien holders, and future purchases against damages resulting from certificate of title issuance. If a valid claim is made against the bond, the surety company will pay up to the full bond amount, which the bonded vehicle owner must then reimburse.
The New Mexico 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 twice the vehicle’s value.
New Mexico certificate of 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 Motor Vehicle Division.
The New Mexico 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).
You can purchase your New Mexico title bond online 24/7. You must provide the following information for Motor Vehicle Division approval.
Once your payment is processed, you’ll receive your official lost title bond by email instantly.
New Mexico 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.
The New Mexico Division 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 if the department does not have an ownership record of the vehicle. Lost title bonds are typically required for the following reasons:
The New Mexico Motor Vehicle Division enforces registration requirements for vehicles with missing titles.
New Mexico certificate of title bonds are required for vehicle registration. If you’re planning to sell vehicles, you need a separate New Mexico vehicle dealer bond.
New Mexico statute 66-3-24(C) dictates that the bond amount must be twice the vehicle’s value as determined by the National Automobile Dealers Association (NADA). If you need help determining your exact required bond amount, contact the Motor Vehicle Division before beginning the bonded title process.
The NADA valuation will change based on the type of vehicle, as referenced below:
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.
If the New Mexico MVD requires your vehicle title bond documentation to be updated for any reason, contact your surety provider.
The most common changes for these bonds include the vehicle owner’s name or specific vehicle information.
No, your lost title bond will expire 3 years from its effective date and won’t need to be renewed.
To apply for a bonded title, complete the following steps:
The Motor Vehicle Division will provide your bonded title application approval within 30 days by email or mail.
In New Mexico, bonded title applicants should mail the completed bond form, including the power of attorney, to the following address:
Motor Vehicle Division-Dealer Licensing Bureau
Attn: Surety Bonds
505 Marquette NW Suite 1501
Albuquerque NM 87102
You’ll need to file your New Mexico certificate of title bond with the Motor Vehicle Division along with your bonded title application within 30 days.
The New Mexico 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
New Mexico requires all motor vehicle owners to purchase auto insurance with the following minimum limits:
To avoid claims against their bond, bonded title applicants in New Mexico must ensure that they are the rightful owners of the motor vehicle.