Certificate of title bond cost
The Michigan Department of State requires owners of motor vehicles, watercraft or snowmobiles without titles for their vehicles to post vehicle uniform surety bonds to be submitted with their title or registration applications. The bond amount must be equal to 2 times the value of the vehicle. A bond is not required for a vehicle that is at least 6 years old and has a value of $2,500 or less. Any watercraft or snowmobile valued at $2,500 or less also doesn’t require bond coverage. These bonds remain in effect for 3 years from the date of issuance.
The Department of Licensing and Regulatory Affairs requires owners of manufactured homes that have no established record of ownership to file surety bonds equal to 2 times the value of the manufactured home. These bonds are issued for 5 years from the date of issuance.
We can issues these bonds for varying rates depending on the required amount of the bond. Bonds greater than $25,000 are subject to underwriting consideration, while bonds less than $6,000 are issued instantly for just $100.
Why this bond
Michigan certificate of title surety bonds indemnify the Department of Licensing and Regulatory Affairs or the Department of State, every employee of the Michigan Department of Licensing and Regulatory Affairs or the Department of State, any prior owner, any subsequent purchaser of the manufactured home or vehicle described above and their successors in interest against any expense, loss or damage, including reasonable attorney fees, that occurs as a result of the issuance of a certificate of title to the principal (vehicle owner) for the vehicle in question.
Certificate of title bond details
Uniform surety bonds for manufactured homes in Michigan are issued for 5 years. If no claims are made throughout the bond’s term, the department will return the bond. The year, make, serial number and size of the manufactured home must be listed on the bond form.
Vehicle uniform surety bonds in Michigan are issued for 3 years. If no claims are made against the bond, the department will return it. The year, make, body style/hull type and vehicle identification/hull/serial number of the vehicle, watercraft or snowmobile must be listed on the bond form.
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- Michigan Department of State Vehicle Uniform Surety Bond form
- Michigan Department of Licensing and Regulatory Affairs Uniform Surety Bond form Manufactured Home
- Secretary of State, Department of State: Title and Registration
- Secretary of State Department of State Register, Transfer & Title a Vehicle Publications and Forms