The Alaska Vehicle Title Surety Bond is required by the State of Alaska, Commissioner of Administration. The bond states that the bondholder is the true owner of the vehicle. As well as, there are no defects in or undisclosed security interest on the title.
Who needs to have the bond?
When the title is lost or was never received, the State of Alaska will still allow you to register your vehicle provided you follow the regulations stated in the Alaska Statures 28.10.216. The statutes state that the applicant may be required to obtain a Vehicle Title Surety bond. According to the State of Alaska Department of Motor Vehicles, the vehicle must be first appraised by a licensed dealer, insurance dealer, or a bank.
What else should I know?
The bond has a 3-year, non-cancelable term. The bond amount must be one and one-half times the appraised value of the vehicle. You will need to obtain an appraisal of the current fair market value of the vehicle. If the appraisal submitted is less than the fair market value, your appliation for title will be rejected.
How can I get an Alaska Vehicle Title Bond?
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
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