I'm sure it's different from state to state, but I was curious what kind of hoops you all have had to jump through to get a title for a titleless bike. In Illinois you can get what they call a "title obtained by bond"; it's a real pain though. they require the following:
-Bill of Sale
-Written Appraisal from a dealer as to the value of the bike
-A bond in the amount of 1.5 times the appraised value
-Application
-Fee
The idea is that if the rightful owner comes along, they can be compensated monetarily for the bike from your bond money. The state then holds your money for three years.
This sounds far to complicated and not quite right to me.
I've also had some luck trying to locate the last registered owner but this can sometimes lead to other problems. Does anybody know of a more painless way to aquire a title? Any suggestions will be greatly appreciated.
Thanks,
Dan
-Bill of Sale
-Written Appraisal from a dealer as to the value of the bike
-A bond in the amount of 1.5 times the appraised value
-Application
-Fee
The idea is that if the rightful owner comes along, they can be compensated monetarily for the bike from your bond money. The state then holds your money for three years.
This sounds far to complicated and not quite right to me.
I've also had some luck trying to locate the last registered owner but this can sometimes lead to other problems. Does anybody know of a more painless way to aquire a title? Any suggestions will be greatly appreciated.
Thanks,
Dan
Comment