Mississippi Title Bonds

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Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Mississippi title bond needs.

What Are They?

A Mississippi title bond is the necessary prerequisite for obtaining a bonded title that will allow you to register, sell, or otherwise transfer ownership of a vehicle you own but do not have a valid title for. This type of bond is also referred to as a certificate of title bond. The bond, which must remain in place for three years, is your guarantee that you own the vehicle in question.

If the Mississippi Department of Revenue were to issue you a title without requiring a title bond, the state could be held responsible for any resulting financial harm to a legitimate owner or lienholder. Thus, a Mississippi title bond provides financial protection for both the true owner of a vehicle for which a bonded title has been issued and the state for having issued the title without incontrovertible proof of ownership.

Who Needs Them?

Here are the most common reasons for needing a Mississippi title bond:

  • The seller did not give you a title at the time of purchase.
  • The title the seller gave you is invalid due to alteration, forgery, or some other reason.
  • The seller gave you a title but it was lost or stolen before you were able to register the vehicle in your own name.

You do not need a title bond or a bonded title if the car is currently registered to you but the title has since been lost or stolen. In such cases, you can get a replacement title with relative ease.

Speak with a Surety Bond Professionals agent today to discuss your bonding needs.

How Do They Work?

If your local DMV tells you that you’re eligible, you can apply to the Mississippi Department of Revenue, Title Bureau for a title bond that will allow you to get a bonded title. You will need to provide strong evidence that you own the vehicle in question, such as a bill of sale or receipt.

A key requirement for getting a bonded title is to purchase a Mississippi title bond with a duration of three years. It’s possible that during those three years someone could come forward and be able to prove their ownership of or a lien against the vehicle. A person who has incurred a financial loss as a result of your attestations of ownership would have the right to file a claim against the bond.

The terms of the surety bond agreement that you enter into when you purchase a Mississippi title bond make you solely responsible for and legally obligated to pay all valid claims. It’s common practice for a surety to pay a claim that can’t be settled and then collect reimbursement from the bonded individual. But that’s basically a short-term loan that you’ll need to repay.

If you make it through the 3-year bond period without any claims, the bond will expire and the bonded title will be replaced with a standard title.

What Do They Cost?

The required amount of the Mississippi title bond you will need is 1 ½ times the vehicle’s appraised value, which you should be able to find out from DMV.

Getting a title bond for a vehicle valued at $6,000 or less should cost you no more than $100. The bond premium goes up for vehicles appraised in the $6,000 to $25,000 range, and your application will go through underwriting if you’re looking for a title bond for a vehicle valued above $25,000. If that’s the case, the main consideration in determining your premium rate is your personal credit score.

Get a Quote

Our surety bond professionals will get you the Mississippi title bond you need at a competitive rate.