Need Advice On Car Titles and Maybe Bonded Title?

[LBreezie]

Alright so, I manage a company that rents units and this lady hasn't paid her unit for a year and I'm going to clean her unit out. In the contents of her unit is a 2006 Impala LT. She will not willingly give the title up, so how do I go about getting the title in the companies or new owners name? Would I have to get a Bonded Title and how does that work? I was told Bonded Titles should be last resort.

[jrhagen]

Part it out.

[LBreezie]

Originally Posted by jrhagen

Part it out.

It has 30k on the odo and my boss wants to sell it to make up for his financial losses on renting it out that long. Not an option.

[LBreezie]

Bonded Title Guide

You will probably need the assistance of an insurance appraiser. Nevertheless, a bonded title will serve as an acceptable substitute for a standard title document. Several steps are involved before a bonded title will be issued.
Instructions

1.) Determine the appropriate bonded title application authorities within your state government. In most states, bonded titles are handled by the state Department of Transportation's subdivision responsible for vehicle titling and registration.

2.) Gather documentation proving that you are a state resident. State residency can be demonstrated by a lease agreement, house title, or several recent utility bills.

3.) Download a Statement of Physical Inspection or its equivalent in your state from the website of the appropriate bonded title authority. Inspect the vehicle and determine the Vehicle Identification Number (VIN), which should be shown on the exterior of the vehicle. If you cannot determine the VIN, you may be declared ineligible to receive a bonded title. Complete the Statement of Physical Inspection by listing the vehicle's make, model, year, and VIN, and sign the form.

4.) Download a Statement of Fact for Bonded Title (or its equivalent in your state) from the website of the appropriate bonded title authority, and complete and sign it. You will have to attest to whether your vehicle qualifies as abandoned or junked, whether it has been reported stolen, whether it meets federal safety requirements, whether there are any liens against it, and certain other facts. You will also have to explain how you came into possession of the vehicle, whether it is operable, and whether it has a motor,a body, and a frame.

5.) Gather any evidence of your ownership of the vehicle, such as an invoice, and submit it to the appropriate bonded title authority along with the Statement of Fact for Bonded Title, the Statement of Physical Inspection, and proof of state residency to the appropriate bonded title authority in your state. If your documents are approved, you will be notified of the amount of the bond (the bond amount is usually more than the book value of the vehicle).

6.) Take your notification letter and any other documents sent to you by the state approval authority to any agency that sells surety bonds. Both the approval authority and most auto insurance agencies should be able to handle this.

7.) Take the documents used in Step 6 along with proof of purchase of a surety bond and proof of insurance to your county tax office to apply for a bonded title. Some jurisdictions may require additional documentation.
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Do these steps sound good to anyone? Have any of you gone through this? How hard is it to sell the car with a Bonded Title?

[Mr Twisty]

Probably need a court judgement against her

[Envy]

In most states you can conduct a lien sale, but the amount of the lien will be limited to the amount owed on the storage unit. You basically already have a mechanics/garage lien on the car, so the dmv will notify the owner of the impending lien sale once you file the required paperwork. Only catch is if the car is sold for more than the amount owed to you, the excess money belongs to the original owner of the car and cannot be "legally" withheld by the seller/lien holder.

Obviously the laws vary by state and I have no idea whether this is an option in PA.

[Mr_Draco]

Originally Posted by LBreezie

Alright so, I manage a company that rents units and this lady hasn't paid her unit for a year and I'm going to clean her unit out. In the contents of her unit is a 2006 Impala LT. She will not willingly give the title up, so how do I go about getting the title in the companies or new owners name? Would I have to get a Bonded Title and how does that work? I was told Bonded Titles should be last resort.

Really the best place to ask this question is your local DMV office that handles titles and liens. They will know more about what your options are and what steps you need to take than anyone here.