01.
Conditions and Requirements. Application may be made for a "bonded
title" when the applicant has actual possession of the vehicle but is unable to
provide proper documentation of ownership. (3-21-22)
a. Proper Documentation Cannot Be Obtained.
The applicant will satisfy the Department that proper documentation to obtain a
regular title cannot be obtained. However, the applicant will provide
sufficient documentation to satisfy the Department that it is more probable
than not that the applicant is the owner of the vehicle. (3-21-22)
b. Vehicle Physical Inspection. The applicant
will produce the vehicle for a physical inspection by a representative
designated by the Department. (3-21-22)
c. Affidavit of Explanation. The applicant
will provide an affidavit explaining the reasons for the absence of a valid
Certificate of Title or Certificate of Ownership or other documentation of
ownership identified in Section
100 of this rule, and how the
vehicle came into the possession of the applicant. A listing of any liens
(loans) or encumbrances against the vehicle; the name of the state, province or
country where the vehicle was last titled, or last registered if from a
non-titling state, province, or country; and the name under which the vehicle
was last titled, or last registered if from a non-titling state, province or
country is also necessary. (3-21-22)
d. Bond. The applicant will provide the
Department with a bond in the amount of one (1) and one-half (1/2) times the
value of the vehicle or a cash deposit of like amount, as provided in Section
49-523(b), Idaho
Code. A cash bond will be in the form of a cashier's check, money order or
certified check made payable to the Idaho Transportation Department. The form
of the bond will conform to the form ITD 3909, Vehicle Ownership Bond, which
can be obtained by calling 208-334-8663 during regular business hours.
(3-21-22)
e. Vehicle Appraisal. The
applicant will provide an appraisal of the vehicle either by a licensed Idaho
automobile dealer on the dealer's letterhead or other form provided by the
Department with dealer's number, or by a Motor Vehicle Investigator. The
appraisal will reflect the current retail value of the vehicle. This appraisal
will be considered by the Department to determine the value of the vehicle.
(3-21-22)
f. Application for Title.
The applicant will apply for title within ninety (90) days of the bond's
issuance. Should the application for title occur more than ninety (90) days
from the issue date of the bond or any subsequent rider, the applicant will
obtain a rider to provide bond coverage for three (3) years.
(3-21-22)
g. Bonded Title Brand.
Upon satisfying the Department's requirements for a bonded title, the applicant
will be issued a title bearing the brand "Bonded Title" and the brand's
expiration date, which will be three (3) years from the following: (3-21-22)
i. Date of issuance of the bond unless a bond
rider was issued; or (3-21-22)
ii.
If one or more bond riders were issued, the date of issuance of the most recent
bond rider; or (3-21-22)
iii. Date
of receipt of a cash deposit. (3-21-22)
02.
Bond Surety. The bond will
be issued by a corporate surety, qualified and licensed to do business in
Idaho. (3-21-22)
03.
Claims
Against The Bond. Should any expense, loss or damage occur, for any
reason covered by the bond, persons or entities suffering such loss will make
claim directly against the principal (applicant) and the surety. If the
applicant has made a cash deposit, any claim will be made through the
Department's Motor Vehicle Administrator. (3-21-22)
04.
Expiration Of Bonding
Requirement. Upon expiration of the brand, the bond or cash deposit will
be returned without interest unless the Department has been notified in writing
of a pending claim or action to recover on the bond or deposit. If there has
been no claim, the applicant may surrender the bonded title and apply for a
Certificate of Title free of the bonded title brand. A Certificate of Title
free of the bonded title brand will be issued upon certification of the
application and payment of any applicable fees per Idaho Code Title 49,
Chapters 2 and 5, and any applicable sales or use tax, per Title 63, Chapter
36, Idaho Code. (3-21-22)
05.
Return Of Bond Prior To Three Year Period. The bond or cash
deposit will be returned prior to the expiration of the brand if the vehicle is
no longer registered in this state, and the Department has not been notified of
any claim or action to recover on the bond. (3-21-22)
06.
Sales And Use Tax. Any sales
or use tax will be paid to the Department or to the county assessor prior to
issuance of a bonded title. (3-21-22)
