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Bonded title 87 GT
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<blockquote data-quote="CobraBob" data-source="post: 16720640" data-attributes="member: 6727"><p>What exactly are you looking for? When you say you are "currently looking at" do you mean in an ad or have you actually seem the car. Are you concerned because it has a bonded title?</p><p></p><h2>Bonded Titles and Surety Bonds</h2><p>A bonded title is a vehicle title that includes a surety bond to guarantee the vehicle owner’s legitimate ownership of the vehicle. By purchasing a bonded title, a vehicle owner takes legal and financial responsibility for the truth of their statements regarding the vehicle.</p><p></p><p>What is a surety bond? Surety bonds are three-party agreements that use a neutral party to guarantee an obligation or contract. The party purchasing the bond, called the principal, pays a premium to the neutral party, called the surety, to cover their obligation up to a specified amount called the penalty sum.</p><p></p><p>If the principal misrepresents any aspect of their ownership of the vehicle, the DMV or another injured party can file a claim against the title bond. The principal is responsible for paying the surety back for any claims that the surety pays for them.</p></blockquote><p></p>
[QUOTE="CobraBob, post: 16720640, member: 6727"] What exactly are you looking for? When you say you are "currently looking at" do you mean in an ad or have you actually seem the car. Are you concerned because it has a bonded title? [HEADING=1]Bonded Titles and Surety Bonds[/HEADING] A bonded title is a vehicle title that includes a surety bond to guarantee the vehicle owner’s legitimate ownership of the vehicle. By purchasing a bonded title, a vehicle owner takes legal and financial responsibility for the truth of their statements regarding the vehicle. What is a surety bond? Surety bonds are three-party agreements that use a neutral party to guarantee an obligation or contract. The party purchasing the bond, called the principal, pays a premium to the neutral party, called the surety, to cover their obligation up to a specified amount called the penalty sum. If the principal misrepresents any aspect of their ownership of the vehicle, the DMV or another injured party can file a claim against the title bond. The principal is responsible for paying the surety back for any claims that the surety pays for them. [/QUOTE]
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