Bond Amount
Based on the Current Value of the Vessel/Unit When determining the current market value of the vessel/unit, the Department of Housing and Community Development may at its discretion, use an approved value guide or the actual known sales or purchase price of the vessel/unit.
Requiring Entity
State of California Department of Housing and Community Development
Underwriting Criteria
Instant Issue No Credit Check Required
Premium Rate(s)
2.5% of the Current Value of the Vessel*
Who is Required to Secure this Bond
In the event an individual seeks registration and/or ownership certification for a vessel legally purchased, however proper title and or transfer of title has become lost, misplaced or was never provided, a defective title bond will satisfy the requirement set forth by the State of California Department of Housing and Community Development in completing the registration and/or release of title to an individual who properly completes the paperwork process and files a Defective Title bond with the Department of Housing and Community Development.
Bond Requirement Specifics
A Commercial Coach/Mobile Home/Floating Home/Commercial Modular Bond is required by the State of California Department of Housing and Community Development under circumstances where the original title or transfer of ownership has become lost, misplaced or was never properly provided to an individual who legally purchased a vessel and has paid that vessel in full.
Who is protected Under this Bond
The State of California Department of Housing and Community Development, any employees or officers of the State, and any and all subsequent purchasers of the vessel under which the bond was provided. The bond is considered an insurance policy which protects any lien holder or rightful owner to the vessel in the event title is released to a party who is not a legal owner to the vessel.
Underwriting Process
Commercial Coach bonds are INSTANTLY ISSUED without the need of a personal credit check for the owner of the vehicle. The bond cannot be released to the applicant until proof of ownership in the form of current registration and/or a bill of sale is provided to ensure they are the rightful owner to the vehicle. Such supporting documentation can be supplied by faxing (949)461-7725.
What you Need to do Once you have your Bond
As the original Commercial Coach bond must be filed with the State of California, Department of Housing, the original bond will be mailed to the applicant. The applicant will need to forward the original bond to the State of California, Department Housingfor filing. The bond will be placed in regular mail unless the applicant opts to pay the fee associated with overnight delivery during the application process.
Obligee Link
www.hcd.ca.gov
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.