the nc division of motor vehicles has a book or database that they assign a value
for a vehicle at the time of title and or
tag. as you know you pay a tax so if you were to buy a 99 vett from your brother inlaw
for 50 bucks they go in that book and find its value. a bond title stays on the book for three years you go to an insurance
agent and for 7% of the value he insures the
title for the state. so if some yayho pops up
and says thats my truck the insurance company pays him the value of the truck
but you are still the owner the title is clean.
