Bonded title
A title issued after the owner buys a surety bond because normal proof of ownership is missing.
A bonded title lets you get a title when you own a vehicle but can’t produce proper ownership paperwork, for example when a seller never handed over the title. You buy a surety bond that protects anyone who later proves a better claim, and the state issues a title based on that bond. Not every state offers bonded titles.
For junk cars this matters because many buyers will not take a car without a title. If a duplicate title is impossible, a bonded title can make the car sellable.
In Texas, the vehicle must be in your possession, must not be junked or nonrepairable, and must be a complete vehicle including a frame, body and motor, though it does not have to run. Applicants pay a $15 administrative fee, and a lien less than 10 years old must be released first.1
References
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Texas Department of Motor Vehicles, “Bought a Vehicle Without a Title?”, https://www.txdmv.gov/motorists/buying-or-selling-a-vehicle/bought-a-vehicle-with-no-title ↩