Bonded Title Question.....

[Ivanite]

I recently purchased some trailers and the previous owner didn't transfer the titles like he should have. So bottom line is, I now have the trailers and he won't transfer the titles because he doesn't want to pay for the tax. (he was reselling them) So I'm stuck with out of state (signed) titles. I was told by the txdmv I could do a Bonded Title. Has anyone gone thru this process before? How long does the Bond last? Any pointers would be really helpful.

Thanks

[flywise]

Done it twice, simple process. On the cars I did it cost me about $100 each I believe.
Google Lawrence title service in Taylor Tx
My cousin buys trailers from auctions all the time and goes through this process with them.

[hellbndr23]

I did it and it was a huge pain. Had to get the trailer appraised, lots of paperwork, and then the bond. I believe mine cost 275. Title is bonded for 3 years. I am past that point and not real sure what to do now.

My trailer was still registered by someone that the seller did not know. Seller had it for 5 years owner before him had it for 4 years. Neither knew the name it was currently registered to.

[Ivanite]

I did it and it was a huge pain. Had to get the trailer appraised, lots of paperwork, and then the bond. I believe mine cost 275. Title is bonded for 3 years. I am past that point and not real sure what to do now.

My trailer was still registered by someone that the seller did not know. Seller had it for 5 years owner before him had it for 4 years. Neither knew the name it was currently registered to.

So did you get a Texas title in your name when you did it? After the bond runs out that means no one can claim ownership anymore? Do you get your bond money back after 3 years?

[hellbndr23]

Yes it is a bonded Texas title in my name. Now after the 3 years no one else can claim it. No clue if I get my money back or how to change to a regular title.

[BrianL]

Guess contacting previous owner before the guy you bought from isn't possible?

I don't think you sales tax on trailers.....

[Ivanite]

huh.... So I need to figure out how to get a real title after the bond runs out....
These are simi trailers... state get's 6.25%

[hellbndr23]

huh.... So I need to figure out how to get a real title after the bond runs out....
These are simi trailers... state get's 6.25%

U got 3 years to figure it out. If u want to do the research now and let me know I would greatly appreciate it.

[flywise]

So did you get a Texas title in your name when you did it? After the bond runs out that means no one can claim ownership anymore? Do you get your bond money back after 3 years?

After 3 years only you can claim ownership

[Ivanite]

OK..... once your 3 years are up, all you have to do is take the title down to the registration office and tell them you want a new title without the Bond stamped on it and they will issue it. Cost for that is $33.00 per title.

[Waylon]

Someone correct me if I'm wrong here please.

I have considered buying a car with a lost title and going the bonded route because the car was cheap.
But what scares me is that if the person holding the "lost" title claims the car before the wait period runs out, you have to pay the appraised value of the car to the person holding the title. So you could be out your original purchase price, the cost of the bond and the appraised cost of the vehicle. The old cheap car just became very expensive.

[Ivanite]

No, By the time you have got your bonded title you have shown proof of ownership with a bill of sale. If someone comes back later it would be settled in court. I would say the likelihood of that happening is slim.

[dropem]

Someone correct me if I'm wrong here please.

I have considered buying a car with a lost title and going the bonded route because the car was cheap.
But what scares me is that if the person holding the "lost" title claims the car before the wait period runs out, you have to pay the appraised value of the car to the person holding the title. So you could be out your original purchase price, the cost of the bond and the appraised cost of the vehicle. The old cheap car just became very expensive.

I never buy a car with a lost title. If they lost the title it is easy to get a new one. Most of the cars that are for sale with so called lost titles actually have title loans against them or they never finished paying for them.

[Waylon]

I never buy a car with a lost title. If they lost the title it is easy to get a new one. Most of the cars that are for sale with so called lost titles actually have title loans against them or they never finished paying for them.

The car belongs to an elderly lady that hasn't had a driver's license in years and I believe she might have Alzheimer's.
Her daughter is offering to sell me the car. Without a photo i.d., they can't get a replacement title. And to muddy the water even further, the car could possibly be in the daughter's deceased stepfather's name. And the daughter has step siblings. The step siblings are the ones I would be worried about coming up with a title some day. If that happened, the $500 car might wind up costing me $7000.

[hellbndr23]

OK..... once your 3 years are up, all you have to do is take the title down to the registration office and tell them you want a new title without the Bond stamped on it and they will issue it. Cost for that is $33.00 per title.

So bond money is just gone?