{"id":14902,"date":"2020-04-15T15:42:00","date_gmt":"2020-04-15T22:42:00","guid":{"rendered":"https:\/\/www.dmv.ca.gov\/portal\/handbook\/vehicle-industry-registration-procedures-manual-2\/bonds-and-certifications\/motor-vehicle-ownership-surety-bond\/"},"modified":"2024-07-10T15:29:44","modified_gmt":"2024-07-10T22:29:44","slug":"motor-vehicle-ownership-surety-bond","status":"publish","type":"dmv_handbook","link":"https:\/\/www.dmv.ca.gov\/portal\/handbook\/vehicle-industry-registration-procedures-manual-2\/bonds-and-certifications\/motor-vehicle-ownership-surety-bond\/","title":{"rendered":"23.020 Motor Vehicle Ownership Surety Bond"},"content":{"rendered":"\n<p>A <a rel=\"noreferrer noopener\" href=\"https:\/\/www.dmv.ca.gov\/portal\/file\/motor-vehicle-ownership-surety-bond-reg-5057-pdf\/\" target=\"_blank\">Motor Vehicle Ownership Surety Bond (REG 5057) (PDF)<\/a> form or a bond alternative <strong>must <\/strong>be submitted when the required supporting evidence of ownership is not available and at least one of the following conditions exist: <cite class=\"dmv-citation\">(CVC \u00a7\u00a74157, 38050 and CCR \u00a7152)<\/cite><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Value of the vehicle is $5,000 or more.<\/li>\n\n\n\n<li>Value of the vessel is $2,000 or more.<\/li>\n\n\n\n<li>Vehicle is nontransferable (goldenrod).<\/li>\n\n\n\n<li>Release from the legal owner\/lienholder cannot be obtained.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>A <a href=\"https:\/\/www.dmv.ca.gov\/portal\/file\/motor-vehicle-ownership-surety-bond-reg-5057-pdf\/\" target=\"_blank\" rel=\"noreferrer noopener\">REG 5057 (PDF)<\/a> is acceptable for a:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Vehicle or vessel when regular evidence of ownership is unobtainable and a bond is required, including a vehicle or vessel from another state or country.<\/li>\n\n\n\n<li>Vessel provided the <a href=\"https:\/\/www.dmv.ca.gov\/portal\/file\/motor-vehicle-ownership-surety-bond-reg-5057-pdf\/\" target=\"_blank\" rel=\"noreferrer noopener\">REG 5057 (PDF)<\/a> correctly identifies the vessel, has a rider attached covering the vessel, and is issued by an admitted surety insurer authorized to do business in California by the Department of Insurance.<\/li>\n<\/ul>\n\n\n\n<p>The bond must be obtained for the fair market value of the vehicle or vessel, as determined by one of the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Written appraisal provided by a California or other state-licensed dealer, motor vehicle insurance representative, or yacht and shipbroker.<\/li>\n\n\n\n<li>A <a href=\"https:\/\/www.dmv.ca.gov\/portal\/file\/statement-of-facts-reg-256-pdf\/\" target=\"_blank\" rel=\"noreferrer noopener\">REG 256 (PDF)<\/a> giving the valuation based on information provided in a recognized industry motor vehicle valuation and pricing handbook, such as the Kelley Blue Book. The <a href=\"https:\/\/www.dmv.ca.gov\/portal\/file\/statement-of-facts-reg-256-pdf\/\" target=\"_blank\" rel=\"noreferrer noopener\">REG 256 (PDF)<\/a> must also include:<br>\u2014 The lowest and highest price valuations added together and divided by two,<br>to get the average price of the vehicle which shall be used as the fair market value of the vehicle or vessel. <br><strong>Example<\/strong>: 1,000+2,000=3,000, 3,000\u00f72=1,500. Fair market value=$1,500.<br>\u2014 Any information required for the diligent effort. <\/li>\n<\/ul>\n\n\n\n<p><span role=\"region\" class=\"format-label--note\"><span class=\"format-label__text\">Note<\/span> The bond must be signed by the <strong>surety <\/strong>and the signature must be notarized. A bond <strong>preprinted <\/strong>with the surety\u2019s signature and notary acknowledgement is <strong>not acceptable<\/strong>. <\/span><\/p>\n\n\n\n<p>Bond forms are available on DMV\u2019s website at dmv.ca.gov.<br><\/p>\n","protected":false},"featured_media":0,"parent":14887,"menu_order":5,"template":"","dmv_task":[11],"dmv_functional_page_type":[64],"dmv_handbook_category":[946,595],"class_list":["post-14902","dmv_handbook","type-dmv_handbook","status-publish","hentry","dmv_task-educational","dmv_functional_page_type-informational","dmv_handbook_category-bonds-and-certifications","dmv_handbook_category-vehicle-industry-reg-procedures-manual"],"featured_image_src":null,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>23.020 Motor Vehicle Ownership Surety Bond - California DMV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dmv.ca.gov\/portal\/handbook\/vehicle-industry-registration-procedures-manual-2\/bonds-and-certifications\/motor-vehicle-ownership-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"23.020 Motor Vehicle Ownership Surety Bond - 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