![]() Want more information about what happens if someone made a claim on your bond? Check out this resource. Essentially, the bond holds you liable for your actions, no matter what. Then, they would come to you for reimbursement. ![]() If you fail to satisfy the claim, the surety company would satisfy the claim for you. The surety company would determine what is fair. Usually, this would mean a financial compensation. If the claim is determined to be valid, you would be responsible for satisfying the claim. If someone comes forward later on and says that they are the owner of the vehicle and that you should not have been granted a bonded title, they can make a claim on your bond. When you get a bonded title, you are promising that you are the true owner of the vehicle and that you will take responsibility for any bond claims. Your title will be marked “bonded”.įor questions about the process, visit the Minnesota DPS bonded title page. Upon approval of your paperwork (and payment of any title/registration fees), the registrar will issue you a Minnesota bonded title.
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