Form BMV2180 Application - Financial Responsibility Surety Bond Secured by Real Estate - Ohio

What Is Form BMV2180?

This is a legal form that was released by the Ohio Department of Public Safety - a government authority operating within Ohio. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is a BMV2180 Application?
A: The BMV2180 Application is a form used in Ohio to apply for a surety bond secured by real estate for financial responsibility.

Q: What is a surety bond?
A: A surety bond is a legal contract that ensures financial responsibility and guarantees that obligations will be fulfilled.

Q: What is financial responsibility?
A: Financial responsibility refers to the ability to pay for damages or liabilities arising from owning and operating a vehicle.

Q: How is the surety bond secured by real estate?
A: The surety bond is backed by the value of real estate property, which serves as collateral in case of default.

Q: Why would someone need to apply for a surety bond?
A: An individual may need to apply for a surety bond as a requirement for reinstating a driver's license or to meet financial responsibility obligations.

Q: What is the purpose of the BMV2180 Application?
A: The purpose of the BMV2180 Application is to provide information and apply for a surety bond secured by real estate in Ohio.

Q: Is there a fee for submitting the BMV2180 Application?
A: Yes, there is a fee associated with submitting the BMV2180 Application. The exact amount may vary, so it's best to check with the BMV.

Q: Who can provide a surety bond secured by real estate?
A: Insurance companies or licensed surety bond providers can offer surety bonds secured by real estate in Ohio.

Q: Can I use any property as collateral for the surety bond?
A: Typically, only real estate properties such as homes or land can be used as collateral for a surety bond secured by real estate.