IN ORDER TO FILE A SURETY BOND IN ALASKA, THE VEHICLE MUST BE IN THE STATE OF ALASKA AND THE APPRAISAL MUST HAVE BEEN COMPLETED IN ALASKA. THE VEHICLE MUST BE INSPECTED BY A DMV REPRESENTATIVE IN THE STATE OF ALASKA.
Alaska law requires an individual to transfer ownership of a vehicle by using a title document. However, if a person has purchased a vehicle from someone and has lost the title which was received from the seller, or the seller did not give the buyer the title, it is still possible to obtain a title.
The law allows an individual to obtain a three year non-cancelable title surety bond or deposit a cash bond with the Division of Motor Vehicles in the amount of one and a half times the appraised value of the vehicle. The bond financially protects the State in case of a legal dispute concerning ownership of the vehicle for which the State has issued a title.
All vehicles, other than small trailers weighing less that 1,000 lbs., will require a surety bond, if there is inadequate proof of ownership. If the buyer requires a surety bond to obtain title to a vehicle, they can stop by the nearest DMV office and pick-up a Surety Bond (No Proof of Ownership) packet.
The vehicle must be inspected(Form 811) by a representative of the Division of Motor Vehicles or 3rd Party Inspector or a law enforcement officer. The purpose of the inspection is to verify the vehicle identification number and the identity of the vehicle. An individual may obtain a special one-way trip permit from DMV for the purpose of bringing the vehicle to a DMV office for inspection.