A recent visit to Mississippi’s Department of Motor Vehicles may have prompted you to visit this website. It is likely that you may have been told that in order to receive a title to a car you want to register, you’ll require a surety bond.
The requirement typically arises due to a registration and title which are no longer available. This could be for any number of reasons. To protect itself, the Mississippi Department of Revenue has mandated your surety requirement.
In Mississippi, the surety bond form is known as 78016, Certificate of Bond. The bond is also sometimes referred to as a Mississippi defective title bond.
Before issuance of the bond – which in the vast majority of cases is easy to get – we’ll need the amount of the bond required as determined by the Commission. According to Mississippi Title 63, §63-21-23, the formula for the amount of surety bond required is:
Up to and including a $50,000 surety bond requirement, our agency provides you with the Mississippi certificate of title bond for 1% of the amount required, or $100, whichever amount is greater.
Your credit score is not a factor for any certificate of title bond up to and including $50,000. What this means for you is that after completion of a short surety bond application and payment of the onetime premium, the bond is issued to you immediately.
Certificate of title surety bonds for amounts greater than $50,000, if applicable to you, will require a credit score check in addition to the application. For these larger surety bond amounts, an applicant will be required to have good credit in order to qualify.
The premium for amounts over $50,000, if approved, will be 1% of the bond amount.
Your premium is a onetime payment for the life of your bond.
What We’ll Need
As preparation to obtain your certificate of title bond, we’ll need all of the following from you:
What’s the purpose your Mississippi certificate of title bond? It’s simple. In case any defect in the registration is subsequently learned which adversely affects either prior owners of your vehicle or subsequent owners, the bond indemnifies them for any losses incurred for the term of your bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Mississippi.
Our agency also provides surety bonds nationwide.
Please call our agency today at:
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