buxtonauto.com This is what happens when a bonded title goes bad. Who's responsible, what the bond is, who pays out and what it takes to make that happen.
Excellent video. You did a great job describing how the process works. On bonds like this, there are three parties to bond Sounds like in this case, you were the named "principal" (aka "Obligor) on the bond. I'm assuming the Texas DMV was the "Obligee" and as you stated, the Surety Company is the issuer of the bond. The surety company looked to you (the principal on the bond) to reimburse them when the bond went bad. Glad you were able to get it sorted out. Thank you for posting this. You did a great job.
Yeah this one was unique because we got past all the DMV and DPS checks and was issued a title. Very rare. It happens, cost of doing business unfortunately.
My buddy had a bonded title go bad once his grandfather bought an international scout from the 70s if I remember correctly, his grandfather bought it at auction around 1990. It had been abandoned at a storage facility. His grandfather sold it to him without a title he had lost all the paperwork from the auction my buddy tried to bond the title in around 2018. The vehicle had never been formally. Claim to the police that it had bin stolen when the state let the previous owner know that what was going on they got an attorney and got the process stopped my buddy had to forfeit the vehicle to them
Yep, when you go apply for the bonded title it triggers a letter to the registered owner and lien holder. Had granddad taken his auction paperwork to the county and gotten a title way back when then it would have been fine because storage / impound yards have to notify the registered owners. If they don’t pay, the car can be sold. This person probably didn’t have the money at the time of the impound but when he realized the Scout was still out there he saw he could get it back. Thanks for watching my video!
If you like to help ppl here's one. We bought a car in SC - the dealer [ friend of a ] gives up paperwork we take to the DMV./ DMV issue a tag. [ We had a tag to transfer but this butthead did it his way- for a reason I am sure] Meanwhile - the state says a dealer has to be able to deliver an unfettered title in 45 days PERIOD! [ New law for 2024] SOOOOO we wait 100 days and demand a title. DMV of SC says nope - there's an issue with the mileage and that's that - refused to tell us the exact issue. Well, we don't want to keep the car. Too many problems for the money. The law says he must sign the paperwork dealing with the issue [ whatever it is] and then we sign it. WE WON'T SIGN. We filed in civil court for damages of about 500 + our initial investment. What do you think of this? Meanwhile - It was a great video helping many poorer and rich people too - in South Carolina.
Does the state or state agency that processes the bonded title paperwork send a letter to the recorded owner on file to let them know that someone is applying for a bonded title on a vehicle in their name?
Yes when you go to the department of motor vehicles with the first form it generates a letter being sent to the owner and lien holder of record telling them they have 10 days to contact the state if they still have interest in the vehicle.
Well, in the video we explain that it was not reported stolen until AFTER the bonded title process was completed. Said search was ran by TXDMV during the process and local tax office. Again, no stolen was reported at that time.
@@buxtonautosales I didn’t catch that part. I watched this video before your how to video . Thank you for the response . Let me ask you another question . Have you sold any of these cars via indirect auto ? If so ; do lenders tend to have any policies regarding bonded title’s? I know Westlake will let you sell salvage titles they just lower LTV a little . Is it the same scenario for bonded or??? I was not trying to insult you in anyway shape or form. I was just curious by the way that’s why I asked about the NMVTIS search.
I don't want to be a bother but I would lobe your input. I sold a bike last year at my home. I signed the title, took the money, and immediately went in the DMV website and let them know I sold it. Fast forward 8 months and I get a letter from a dealer that is three hours from me containing a bill of sale and an affidavit of fact that are both signed by them and they want me to sign them. This was for the bike that i sold to the individual last year. The bill of sale states that they are selling me the bike for a certain amount well below what it is worth and the affidavit of fact says that there is an error with Texas document ######## and the error is listed as "deal fell through". I called them and was told that they bought the bike but the person they bought it from never had the title taken out of my name and they are supposed to call me tomorrow with further details. The DMV asked me if these statements on the paperwork were true and I said no and was told that it would be fraudulent to sign them... Which I had no intention of doing anyway. Would you have any insite or advice for a situation such as this. Thank you God bless
Sounds like the person you sold the bike to did not go do the title transfer and then traded it to that dealer. That dealer is hoping you'll sign their forms for them so they can transfer the title to who they sell it to without them having to do a bonded title on it.
If you drive to your DMV and get that paper work then drive to your insurance guy for your bond then drive to your county tax office to file it all that can all be done in one day. It's then about 3 weeks until an actual title shows up in the mail.
someone left a 7x16 trailer in my property since october 2023 it does not have a license plate and it not reported stolen i live in arizna the trailer from nevada or cause i use without a lincence plate if i really need to or what should i do
Protecting yourself would have not been dealing with a crack or meth head in the first place. Sometimes you may get lucky, more often you'll get burnt. Ultimately YOU are going to be hung out to dry as the guarantor. If you have ANY doubts, I would walk away. If you want to deal with those people you can look at it as playing the numbers.
Yeah, I've done 100+ bonded titles this one bit me in the ass. This was after verifying not stolen before making the purchase. It's pretty rare I vehicle is reported stolen 30 days AFTER I get it. It is what it is. I lost a few bucks. I've made a lot more on the good ones. When buying no title cars you deal with a lot of broke and desperate. Most are not criminals, just desperate. This was the one. Thanks for watching!
I bought my bond for a car with lost title but I wasn’t able to go to dmv within the 30 day period. Can I still go get it done or what should be my next move?
You may be able to have the person that wrote the bond give you a rider on it to change the date of the bond or delete the bond and reissue. The county tax office will not accept it if the bond's passed the 30 day mark.
The cause of this particular incident is our drug epidemic. Selling a neighbors vehicle is really small potatoes. I have heard of people selling their children for crack. Sorry this happened to you.
Hey man, I met this gentleman selling a car which I'm looking at purchasing. (its been sitting on a lot for two years.) He isn't on the title or bill of sale at all, but he has an original bill of sale and the original signed title by the owner. I ended up doing some digging and the vehicle was indeed sold to said person, but that person never titled it to his name. So basically its been title jumped twice. I also got ahold of the original owner, and told him the situation. I have in text he sold the car, and he confirmed that it was his signature on the bill of sale. Could the owner of the vehicle still have a claim if I go the bonded title route? He sounded interested in the vehicle which was kind of scary, but seeing I have both original documents I don't see how he could claim against me.
If you’re in contact with the guy who’s name is on the front of the title why not offer him $100 to sign the form for a certified copy of the title and then sign it to you and you don’t have to do a bonded title at all? If he won’t, you’d have to do a bonded title. Send in a copy of the front and back of the title that’s been jumped as proof of ownership. It doesn’t prove you own it but it shows that the guy on the front sold it.
@buxtonautosales thank you for the info. I have offered him 100$. He lives far away and said he doesn't want to take my offer. I told him I would be doing the bonded title. I was just worried if he was still able to make claim against me somehow. Thanks for answering! It really makes me feel more comfortable about the situation.
I would like to get a title for a 69 chevelle I purchased for 150 19 years ago I would like to get it restored what would you charge me for this to happen. Thanks
Hello could you help me locate the owner of a vehicle. l live in Louisiana but the car was registered in Tx. I am trying to get the car in my name. I have the VIN number.
I believe LA does not accept bonded titles of any type. So you would have to find the legal owner and ask/pay them to file for a duplicate title then sign said title and send it to you. You should be able to get that info by using the request for motor vehicle information form.
@@buxtonautosales tx has a form for getting or locating the prior own er but this form dose not have a option for a individual trying to locate the owner.
Could you then sue crack head for this money. I kno you would not get reimbursed but I could you then have the loss for tax purposes granted judgement in the suit
