If a party would like to purchase a motor vehicle in the State of California with a missing title, this bond is required. The bond obligates the principal and the surety to the true owner of the vehicle for the market value of the vehicle if the owner is someone other than the party claiming ownership. The bond requires the following: - Market value (book value) of vehicle - Full name and address of applicant for title - California plate # - Vehicle Identification Number - Year, make and model of vehicle