The Alabama Certificate of Title Surety Bond is required by the Alabama Department of Revenue, Motor Vehicle Division. When the title of a vehicle is damaged or cannot be produced, they generally request that you obtain a surety bond. The bond is very easy to obtain, all we need is a filled out application and we can get the bond approved for $125 for bond amounts up to $7,500.00. There si no credit check for bonds $25,000 or less in most cases.
In compliance with Section 32-8-36 of the Code of Alabama, if the Motor Vehicle Division of the Alabama Department of Revenue is not satisfied with the proof of ownership you are showing then they may withhold the certificate of title. In order to issue ie, they will ask you to present a surety bond. This surety bond will be needed if your title is damaged, lost or even stolen.
The surety bond varies because it depends on the type of vehicle you have and how old the vehicle it is. For example, for trucks, buses and recreational vehicles, an amount of $100,000 is needed if it is less than five years old, half of that amount if it is more than five but less than ten years old, and $25,000 for those that are more than ten years old. You can check out the Motor Vehicle Title Registration and Insurance Portal for more information regarding the bond amounts.
The bond does not protect you; it actually protects the Department of Revenue from you, in case someone else with the title to the vehicle claims that it is theirs. By having this Certificate of Title Surety Bond, you are making it known that you are the only owner of the said vehicle and that you acquired it legally.
Before you apply for a the surety bond, you will need to get an MVT 10-1A Bond Application from the Motor Vehicle Division page. Aside from that, you will also need to provide the following proof of ownership along with the application: the original outstanding title with the assignment completed listing the applicant as the buyer. If that is not possible, make sure to also provide a copy of the Bill of Sale containing the VIN or the latest registration of the vehicle which should be in the name of the applicant.
All you need now is to complete our free and easy to use, online application. Within 24 hours (Mon-Friday) a licensed agent will contact you with a firm, no obligation quote. Then you make payment and your bond will be mailed priority USPS mail, over night delivery is available for an additional fee. to inform you of the amount you will need to pay for Alabama Certificate of Title Surety Bond. Surety Solutions Insurance Services, Inc. (Surety1) has been in the business since 2003 and is rated A+ by Better Business Bureau.