MV-994

The New York State DMV Form MV-994, titled Certificate of Title Bond, is a legal document required under the Uniform Motor Vehicle Certificate of Title Act (Section 2105 of the Vehicle and Traffic Law) for individuals who cannot provide sufficient proof of vehicle ownership. This surety bond serves as a financial guarantee to protect the Commissioner of Motor Vehicles, as well as any prior owners, subsequent purchasers, or lienholders, against losses, damages, or legal expenses resulting from defects in the title or undisclosed security interests.

The bond amount must be equal to one and a half times the vehicle's appraised value, as determined by the DMV. To obtain a bonded title, the applicant (principal) must purchase the bond from an authorized surety company and submit it to the DMV along with proof of identity, a notarized affidavit explaining how the vehicle was acquired, and proof of ownership like a bill of sale. The bond remains active for three years, after which the "bonded" designation can be removed if no claims are filed against the title. This process is commonly used when a title is lost, stolen, or incorrectly assigned and the previous owner cannot be contacted.