Required to Bond the Title

[papadaytona]

I purchased a Daytona coupe from the original purchaser in 2014 in Florida. He had installed a few things, but the reality is that I have spent the last 5 years building the car from the ground up in my home state of Colorado. I got all my paperwork together in preparation of my VIN inspection next Tuesday. I headed over to the DMV yesterday to ask about a temporary permit. I was quickly moved to the "special" line. They took the Certificate of Origin and my notarized Bill of Sale and went to talk with the Supervisor in the back office. When the lady came back, she informed me that I had to get a Surety Bond and jump through another number of steps to get the car titled. The Bond requires me to get the car appraised and a Bond that is double the value of the car. Probably $2,000 out of my pocket and a major hassle. They said the original purchaser should have titled it in Florida. I said "what..title a box of parts?" The Surety Bond protects the State if there are title issues. Doesn't make any sense to me...the BOS is an affidavit that is a legal document and it references the FF serial number and name of the original purchaser on the COO. I called the State DMV and they said its a judgement call by the county. FactoryFive said they are crazy. Was hoping FactoryFive would reissue the COO in my name, but no.

Not sure what I can do to challenge the DMV. Any ideas are appreciated.

The moral to the story is beware when you are buying an untitled car.

[Bob Cowan]

Try a different DMV office. You would think you would get the same answer from every office, but that isn't so. I have heard that the office in Golden is the easiest to work with for kit cars.

Also, go on line and read all the rules and regs that pertain to your car. Print them out, and go to the office with everything you think you might need. Be prepared to show the rules to the clerk and the supervisor to get what you need.

[KDubU]

Agree with Bob. Seems like depending on the DMV you go and even within the same one, the person that serves you have different understandings. Do your homework, be prepared as that will likely make you more informed than the person serving you.

[edwardb]

Also responded on the other forum. It won't make you feel any better, but I had exactly the same thing happen in Michigan. Had to get a surety bond because the COO wasn't in my name. Was a Mk4 Roadster I purchased from the original buyer (#7750). I too had a signed bill of sale but didn't matter.

In my case, the local office had no authority in the matter. In Michigan all Assembled Vehicle decisions and paperwork are handled by the main office in Lansing. If your state is different (sounds like it is) then for sure try another office and see if they have more latitude as others have suggested.

In my case, they too said the original owner should have titled the car, and I had the same response. What, a box of parts? Funny, but sad. They said my only choice was no title unless the surety bond. The same process as a lost title. My insurance agent shopped around and found a company that would underwrite it for about $700. He said it was considered a medium risk and the best he could do. Could have been higher if considered a high risk. So, if you have to go that way, somehow shop around and find a company who's willing to write a policy for the best price.

BTW, your experience with Factory Five I've heard multiple times. They will not issue a COO to anyone except the original purchaser. They will not get into the business of determining/validating legal ownership. I think that's an understandable position.