I have had two different trucks titled to me as a bonded title.
One truck had no available title and another truck had a bill of sale with the notarized signature of the original title owner.
I both cases (in NY and in NC) the official in the DMV had to make a judgement-call to allow me to obtain a bonded title.
In both states, the DMV officers said that one major concern is giving a "legal" title to stolen truck. In both states, a stolen truck can be on the way to Europe/Asia very easily - but, usually, a "standard/conventional" title is required.
In both states;' the DMV told me that they could be sued by an original owner of a truck that had been stolen and was illegally shipped to Asia/Europe (with a bogus title or with a bonded title). The bonded title covers the DMV for the value of the stolen vehicle.
In both states the DMV trusted me - they charged me the bond-fee based on the original cost of the 1954 truck.
