Certificate of title bond cost
The North Carolina Commissioner of Insurance requires individuals with insufficient proof of ownership of their vehicles to post 3-year surety bonds. The required bond amount must be equal to 1.5 times the appraised value of the vehicle.
Why this bond?
North Carolina certificate of title bonds are posted to satisfy the requirements set in Section 76 of Chapter 20 of the General Statutes of North Carolina. These bonds are put in place to protect any prior owner or lien holder of the vehicle and any subsequent purchaser of the vehicle in the event the issuance of a new certificate of title causes loss or damage.
Certificate of title bond details
Certificate of title bonds in North Carolina remain valid for 3 years from the date of issuance. The bond remains in full force and effect until surrendered by the state of North Carolina, Division of Motor Vehicles as provided in Section 76 of Chapter 20 of the General Statutes of North Carolina. The vehicle’s year, make, body style and identification number must be listed on the surety bond form.
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