Bonded Boat Title
BoatWiki - Definitions
your help in maintaining our vital community resource.
Please WikiShare any comments, suggestions, or corrections regarding this subject.
Aug 15, 2023 - A bonded boat title can be defined as one that is supported or guaranteed by a surety bond. This offers protection for lenders, insurers and subsequent owners resulting from any title defects, undisclosed liens and other encumbrances.
Bonded boat titling is offered in some, but not all, state jurisdictions (see WikiTags). It is typically provided in response to title applicants that are unable to meet the usual titling requirements. In such cases, an applicant must otherwise provide convincing evidence of ownership. The U.S. Coast Guard does not offer such an accommodation for documented vessels.
Those involved in boat purchase transactions with a bonded title should become familiar with the conditions and coverage of the respective surety bond. Any concerns in this regard should be addressed with a qualified attorney.
Credits and References
Aug 15, 2023 - Page revised.