davidc212k

iTrader: (3)

i am currently thinking of purchasing a 96 camaro z28. body only.
no engine and transmission. i will be installing an LQ4 engine etc.
the main issue is that the owner has a bonded title in his hands.
the title is not under his name. its under one of this friends father in law.
i have no idea what a bonded title.
Will i have issues to transfer it under my name or should the owner have it transferred under his name 1st and then sale the car to me and then i can transfer the title under my name.
please help.

Thanks,

sgtrgpfdps

Never herd of bond when it comes to a title. A bank lean yes. Owner needs to sigh off and the bank once they get there money. Hope this helps.

squarles67

In Texas you apply for a bonded title if you buy a vehicle without a title or if you don't have all the docs to transfer the title. You have to buy a bond for 1.5 times the vehicle value.

If it were me I wouldn't fork over any cash until the guy I was buying it from had the title in his name.

97ramsst

iTrader: (162)

What was just said about the bond securing the title incase there is a claim against it later...not a big deal. They usually do that when an abandoned title is applied for.

As for it not being in his name...as long as its "open" (meaning signed by the owner and the buyers name is left blank) I wouldn't worry about it. I assume its a few hundred bucks...if you insisted I get it put in my name to sell it to you for that I would just scrap it. I wouldn't worry about it if it was me.

uraez12

like ramsst said, as long as its just in guys name and not reassigned to anyone yet, ul be fine..