Do you have a car in Mississippi, but no title? Maybe you purchase a vehicle, but never received the title. Or maybe you had the title, but lost it before transferring it into your name.
You might be wondering what you can do. Well, you might be able to get a Mississippi Bonded Title.
What is a Mississippi Bonded Title?
A Mississippi Bonded Title (sometimes called a Mississippi Lost Title Bond) looks just like a regular title, except in the title brand section, it is marked BONDED. This title brand implies you purchased a surety bond before the title was issued to you.
More information on the title brand and how the bond works at the end of the article.
When You Might Need a Mississippi Bonded Title
You might be eligible for a bonded title in one of the following situations. This is not a complete list:
- Bought a vehicle and never received the title
- Bought a vehicle and only received a bill of sale
- Bought a vehicle and received an improperly assigned title
- Bought a vehicle, received a title, but lost the title before transferring it into your name
You do not need a Bonded Title if you simply lost the title to your vehicle, but had it registered in your name at one point in time. In this case, you can apply for a Mississippi Replacement Certificate of Title by completing an application, taking the application to your local Mississippi DMV, and paying a $9 title fee.
How to get a Mississippi Bonded Title
Step #1: Check to make sure you are eligible
You can do this by calling the Mississippi Title Bureau at 601-923-7640.
The Mississippi Title Bureau is the only entity that can tell you if you can get a bonded title. Call them first before moving on to the next step.
While on the phone with them, be sure to ask them what the value of your vehicle is, as well as the process. The process might differ from the steps listed below, depending on your situation and your vehicle.
Step #2: Calculate your bond amount
Whatever vehicle value the Mississippi Title Bureau gave you in Step #1, multiply that number by 1.5. This new number is your bond amount.
For example, if the value of your vehicle is $2,500, multiply that by 1.5, and your bond amount is $3,750.
*Note: Depending on the year of your vehicle, the bonding requirements might be different. Contact the Mississippi Title Bureau at 601-923-7640 for more information to make sure that you need to multiply by 1.5 and not a different multiplier.
Step #3: Purchase a Mississippi Lost Title Bond
Purchase a surety bond from a surety bond company.
Make sure you apply for the correct bond amount (that you calculated in Step #2).
You will not pay the full amount of your bond. You will just pay a portion of it.
Most people only pay $100 for their bond.
Surety Solutions, A Gallagher Company does not issue Certificate of Lost Title Bonds
Before you purchase your title bond - learn important payment info
After you purchase your bond, the surety company will mail your Mississippi Lost Title Bond in the mail. Once you receive the surety bond in the mail, you can move on to the next step.
Step #4: Submit the original Certificate of Title Bond
Submit the surety bond to your nearest Mississippi Department of Revenue office. Locations can be found here.
You might also need to complete additional paperwork. For further information about the process and paperwork, call the MS Title Bureau at 601-923-7640.
Step #5: Wait to receive your Mississippi Certificate of Title
Once approved, you will receive your Mississippi Bonded Title in the mail. This could take up to 3 weeks.
Does my Mississippi Bonded Title Expire?
Yes, MS Bonded Titles expire 3 years after the date they are issued.
When you get a bonded title, you are promising that you are the true owner the vehicle. If someone comes forward later on and says that they are the owner of the vehicle and that you should not have been granted a bonded title, they can make a claim on your bond. If the claim is determined to be valid, the surety company would pay the person a fair amount. It would then be your responsibility to repay the surety.
The surety bond holds you liable.