Topic: Bonded title?

[Fourme]

I am looking to buy a 750 that can be restored.  I found one locally, but the seller said the bike's VIN shows no history of ever being registered.  He registered it with the state and was required to get a bond for the value of the bike.  He stated that after two years, presumably if no one make a competing claim to the bike, the owner of the bike will get a clear title.

I have never done a restoration before, has anyone ever heard of this?  Or is this one I should just walk away from?  Any thoughts/guidance would be appreciated.

Chris

[ekpent]

 What state do you live in that you have to deal with ? Someone from your neck of the woods may have specific advice. Different rules everywhere.

[carnivorous chicken]

I've bought several bikes without titles over the years, and never been burned. Ekpent's right, depending on the state sometimes it's easy, sometimes it's a pain. If you search around here you will find threads that detail the different ways to do this. I wouldn't let it be a deal killer, but you should definitely haggle the price a little because you'll have to pay something to get a title.

[Fourme]

Thanks for the quick answers I will contact the state as suggested.  I am new to this forum and it's such a great community.

[carnivorous chicken]

Tell us where you're located, and maybe someone can offer specific advice. In AZ, for example, you can file for an abandoned vehicle title for a fraction of the cost and headache of other methods.

[MicahDT]

If you're in North Carolina, I have done this before. It's not too bad a process. If you want more details let me know.

[Jerry Rxman Griffin aka MuthaF'er]

I had to do a Colorado title bond on a Subaru with a GA title that had mistakes which the GA DMV wouldn't fix. Obvious easy fix to a 2006 dates in between two 2016 transaction dates. It was a REAL PITA. It took me 11 months of jumping through hoops.

Good luck. If he is the one doing the work just make sure it's completed BEFORE purchase. 

[Holubs]

In Iowa, my F1 that drug out of my brother's farm shed hadn't been registered for almost 15 years. The State of Iowa drops the registration out of the system after 3 years of no payment. Luckily my brother still had the title from when I sold him the bike, and the state was happy to transfer it back to me with no penalties or back registration fees owed.

I have another F1 frame in the garage that I am slowly working on that came without a title. For that one I had to purchase a "surety bond" that cost me $50 from my insurance agent. That one has a 3 year time period where someone can claim the bike and the surety bond would pay me for the loss.

[johans]

Go to your local dmv office that does  a VIN # verification ( frame and engine #'s checked to see if it was stolen ) . submit that doc. w/ a check for about $100 and the Vermont dmv form . You will have a bike that is registered in Vt . ( some states will transfer this more easily than other states after the reg. expires ) , or just leave it under that reg. , we just did it with a 78K that i had for 30+ years and had no title .  NY wanted to do the bonding thing , Vt is the path of least resistance ( and cheap) and we had the plate & reg. in a week !   try that in NY -

The only stipulation here was that you had to ride the bike into the inspection garage .

[b52bombardier1]

Texas, across the border from me here in Louisiana, does bonded titles.  I think, not sure, that the waiting period is three years after which the State of Texas "SHALL" issue a full normal title to the provisional owner.   

  Think of it as an insurance policy for the state if somebody seeks a claim against your bike.

  Definitely yes, on doing the Vermont Method.  Done that a bunch of times here in Louisiana and it all begins with Vermont DMV Form 119 and its instructions form.

Rick

[Fourme]

I am located in Texas and took your advice and contacted the state.  After three years you can obtain a clear title.  Thanks again!