Certificate of Title

What is a Vehicle Valuation for Bonded Title Bond?

A Vehicle Valuation for Bonded Title bond is a surety bond required by the State of South Dakota for individuals seeking to obtain a bonded title for vehicles that are 30 years old or older with no existing title records on file. This bond serves as financial protection when standard title documentation is unavailable or insufficient.

Who Needs This Bond?

South Dakota residents who own vehicles 30 years old or older and cannot provide proper title documentation need this bond. This typically includes collectors, restorers, or purchasers of vintage vehicles where the original title has been lost, destroyed, or never properly transferred through previous ownership changes.

Bond Protection and Coverage

The bond protects the State of South Dakota and any parties who may have a legitimate claim to the vehicle. If someone later proves rightful ownership of the bonded vehicle, they can make a claim against the bond for financial compensation. The bond amount varies based on the vehicle's appraised value, ensuring adequate protection for potential claimants.

Bond Terms and Requirements

This bond has a 3-year term and bond amounts vary depending on the vehicle's valuation. Bonds up to $50,000 can be issued instantly, while amounts from $50,001 to $100,000 require a credit check, proof of ownership, and indemnity agreements for bonds over $75,000. Bonds exceeding $100,000 require additional business and personal financial statements for underwriting approval.