-Yes, but first, you must obtain a surety bond. While a bill of sale is a legal document that transfers ownership of that vehicle to you, it fails to mention whether there exist liens on the vehicle or not. The surety bond confirms the absence of liens on the vehicle.
What is a bill of sale?
A bill of sale refers to a legally binding document which confirms that you actually bought that vehicle from a private entity or party. Think of it as a legal contract used to transfer ownership of the vehicle to the new owner. It’s also an important document for the buyer’s and the seller’s records, and it proves to the DMV that you bought that vehicle from the named seller legally.
The bill of sale is not a form of title, but you could use it to obtain the vehicle’s title from the DMV.
It’s also important to note that the legality of your bill of sale depends on whether it bears or the necessary information or not.
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A valid vehicle bill of sale form has the following details:
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The vehicle’s identification number and the license plate number
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The car’s selling price
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The location and date of the sale
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Full legal names and addresses, as well as signatures of the buyer and seller.
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Using the Surety Bond
To get the surety bond, you have to take the signed bill of sale and your identification documents to the DMV. The guys at the DMV will go through and record your details. After verifying your details, the DMV will inform you of the surety bond’s cost and the approved insurance provider you need to buy the bond from, for you to get the bonded title.
The purchase of the surety bond confirms that the vehicle you bought is cleared and free of liens. This purchase allows the DMV to list you as the new owner of the property.
What is a bonded title?
A bonded title is a lot like the regular car title, but it’s different from a regular title in that it’s marked “bonded” because of the surety bond attached to it.
After obtaining your surety bond, you will be required to apply for the bonded title within a specific duration. The bonded title names you as the new owner of the vehicle.
Note that the secretary of the state issues the bonded title, and this happens only after the comprehensive review of the bond and the letter from the DMV.
Now that you have a bonded title, you can register the vehicle, get a title loan, or buy car insurance.
Finally, it’s important to note that the DMV is the only entity authorized to confirm your eligibility for the bonded title. You may download a DMV bill of sale from – free bill of sale