What is an Nevada Lost Title Bond?
Nevada Lost Title Bonds are required by the state of Nevada's DMV to obtain your title and register your vehicle, boat, RV, mobile home or trailer. The bond ensures that you are the rightful owner of the vehicle, Mobile home, trailer etc. The Nevada Lost Title Bond guarantees damages up to the bond limit for a legitimate title holder that may surface in the future with a valid claim to the vehicle, Mobile home, boat or trailer.
Different parts of a bond:
The bond is required when The Obligee (obligator) is the entity requiring you to get the bond. There are 3 parts to a surety bond. The Principal, The Surety Company, and the Obligee. The Principal is the business or individual applying for the Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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How much does a Nevada Lost Title Bond cost?
For Nevada Lost Title Bonds under $5,000 the cost of the bond is $100. For bonds over $5,000 the rate is 1.5%
Nevada Lost Title Bond Information and Requirements
Any person damaged by the issuance of a bonded certificate of title has a right of action to recover on the surety bond for any breach of its conditions. The bond must remain in force for three years from the date of issuance even if the vehicle is sold.
You must be a Nevada resident and the vehicle must be present in Nevada.
Applications are not accepted at DMV Field Services offices.
Bonded vehicle titles are processed by the Title Research Section in Carson City only. Affidavits and forms are available only through Title Research.
Do not purchase a bond prior to receiving documentation from the Department authorizing the bonded title and the bond amount required.
Here are the steps in the process:
Nevada Department of Motor Vehicles
Title Research Section
555 Wright Way
Carson City, NV 89711
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. Allapply. If the title is issued on a salvage vehicle, you must follow the to rebuild the vehicle before it can be registered or sold.
The bond must be:
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.