Title

Fri, 05/05/2023 - 12:00

No. You must use the Vermont DMV Vehicle Power of Attorney form (VN-101)

No, after three (3) years from the time of the bond purchase, you can obtain a clear title.

The central use of Bonded Titles is to act as a form of financial protection for potentially harmed parties. However, it also holds benefits for the bondholder. It can allow the bondholder to possess proof of ownership instead of an incomplete, non-existent, or lost title bond.

The exact circumstances in which owners must take out a Bonded Title vary case by case. However, in most cases, if you own or wish to buy a vehicle, trailer, vessel, snowmobile, or all-terrain vehicle that lacks a title or if that title is incomplete, then a Bonded Title is necessary.

A bonded title, also known as a Certificate of Title Surety Bond or Lost Title Bond, is a document that establishes who owns a vehicle, trailer, vessel, snowmobile, or all-terrain vehicle. A bonded title can be used instead of a traditional title to register, get insurance for, or sell the vehicle, trailer, vessel, snowmobile, or all-terrain vehicle. 

You must make every reasonable attempt to obtain the previous title issued to the vehicle, trailer, vessel, snowmobile, or all-terrain vehicle. You may apply for a bonded title if you are a Vermont Resident and have exhausted all other options to obtain the title.

What is NMVTIS?

The National Motor Vehicle Title Information System (NMVTIS) is an electronic system that provides consumers with valuable information about a vehicle's condition and history. Prior to purchasing a vehicle, NMVTIS allows consumers to find information on the vehicle's title, most recent odometer reading, brand history, and, in some cases, historical theft data.

No

23 V.S.A. § 2001 Definitions

(11) "Salvage dealer" means any person who, in a single year, purchases or in any manner acquires three motor vehicles as salvage or who scraps, dismantles, or destroys three motor vehicles in a single year.