Minnesota Vehicle Title Bonds

What is a Minnesota Certificate of Title Bond?

A certificate of title bond (or lost title bond) is a type of surety bond in Minnesota that helps drivers obtain a title for their vehicle while providing protection for a person who is the true owner of a vehicle in the event that tile fraud or other misdeeds are taking place. 

Certificate of title bonds are needed when a person in Minnesota wants to sell their vehicle and/or has lost the title to their vehicle. In any event, a certificate of title bond is required when the information on a vehicle title does not match the information given by the person who is claiming ownership of that vehicle. 

When are “Lost Title” Bonds Required?

The state of Minnesota generally requires a person to obtain a certificate of title bond if any of the following events happen: 

  • A person misplaces their title, reports it stolen, or reports that it has sustained damage that makes it unreadable 
  • A person purchases a vehicle but does not receive a title 
  • A person purchases a vehicle but receives a title that has a different person’s name on it 
  • A person purchases a vehicle, but something happens to the title (lost, stolen, damaged, etc.) before the vehicle can be transferred into their name 
  • A person inherits a vehicle from a person who had the vehicle registered in another state 

Why are Certificate of Title Bonds Required? 

The state of Minnesota requires vehicle title bonds to be obtained in the above circumstances and before a vehicle can be registered to the owner. These bonds are required because they protect the person who can claim true ownership over a vehicle.  

A Minnesota vehicle title proves that the person is the owner of the vehicle in their possession. If they do not have the current title, the “new” title they apply for will have to be bonded. A bonded vehicle title simply means that there is a surety bond attached to the title of the car. The certificate of title bond serves as a guarantee that the person who owns the car has no knowledge of the car being stolen, or they are not committing any type of fraud. 

If a person other than the person who holds the bonded title can prove that they own the vehicle, that person can make a claim on the bond and claim the amount attached to the bond. 

Obtaining Certificate of Title Bonds in Minnesota

If any of the above scenarios apply to you, or you have any other need for a lost title bond in Minnesota, contact the surety experts at The Patrick J. Thomas agency. We can help you obtain a Minnesota certificate of title bond for your vehicle.