Surety Bond Application Instructions
REQUIREMENTS:
The Surety Bond Application must be completed and supported by the following:
1. A bill of sale* from the last registered owner stating why the vehicle was not titled or registered in the seller's name.
*In the absence of a bill of sale please provide:
For Manufactured/Mobile Homes: a written estimate of the current value of the mobile home only (that does not include
any land value) or a recent property tax bill of the mobile home property showing separate “land” and “improvement”
values (if applicable).
For Vehicles (car, truck, golf cart, motorcycle, camper, trailer, etc.): a written appraisal of the vehicle (showing its current
value) from a local licensed dealer or website such as www.kbb.com or www.nadaguides.com.
2. Information specific to the type of bond.
For a Personal Surety Bond: A Surety Bond written by the State of Tennessee at no additional cost to the “principal” [the
owner of the vehicle/mobile home]
A personal surety bond requires the names of two sureties (other than the principal) who own land in the State of
Tennessee and who are willing to sign the surety bond with the principal. The two sureties must not share the same
address or live at the same address as the principal. The “principal” cannot be their own surety. You must furnish
the complete name and physical mailing address of your two sureties on the Surety Bond Application.
You must
also furnish General Tax Certification (“GTC”) (tax cards) (i.e. a copy of their most recent property tax bill showing
their property tax information). The GTC can be obtained from tennesseetrustee.org, the local tax assessor’s office
or county
website. The GTC is used to show proof that the land is located in Tennessee and the value of the
property for each surety.
For a Corporate Surety Bond: This is a surety bond written or backed by a bonding or insurance company that charges a
premium fee to write and back the bond for the principal. A corporate surety bond does not require the signature of two
sureties but requires State of Tennessee approval. You can obtain a corporate surety through many insurance providers. If
your insurance provider does not write corporate surety bonds, there are third-party companies available that can assist
you with finding a company to write your corporate surety bond for you.
The principal must furnish the complete name and physical address of the insurance provider or bonding company
who
serves as guarantee of surety on the Surety Bond Application and request a Tennessee Corporate Surety Bond
Form for their
insurance/bonding company to use when writing a corporate surety bond. The bonding or insurance
company’s attorney-in-
fact must sign the corporate surety bond, stamp the bond with the company’s seal, and
attach an original, written power of
attorney, stating that they are licensed to transact surety bonds in the state of
Tennessee, to the corporate surety bond
before it can be approved.
HOW TO SUBMIT SURETY BOND REQUESTS:
•
Mailing Address: Tennessee Department of Revenue, Special Investigations (ATTN: Surety Bonds)/
Andrew
Jackson Building, 11th Floor / 500 Deaderick Street, Suite 11.125 / Nashville, Tennessee 37242
•
Email Address: christopher.fischer@tn.gov
WHAT HAPPENS AFTER THE DEPARTMENT RECEIVES APPLICATIONS:
•
The department checks the VIN to make sure the vehicle or mobile home has not been reported as stolen.
•
After the application has been processed by the department’s Special Investigation Section, an approval letter and
supporting documentation will be sent to the applicant advising him or her to complete the Multi-purpose Application at
the local county clerk’s office, apply for title and pay the appropriate fees*. State and local title and registration fees, as
well as sales and use tax, may apply. The surety bond approval letter and supporting documentation from the state
is required in order to process the application
for title though the office of the local county clerk.
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* Sales tax is calculated based on the sales price or appraised/assessed value depending on the documentation provided with the bond application. This amount is stated in the approval
letter. Sales tax will be charged for all mobile homes applying for a title with a Surety Bond unless the applicant provides written documentation that sales tax was paid at the time of purchase.
