pretty much , except that I a have done this twice now , the dmv here does a record check to the last known owner if it was ever registered.
Then you mail out a certified letter to them ( AND IT COULD BE PLENTY OF PEOPLE IF THAT THING HAS CHANGED HANDS , AND EVERYONE HAS TO SIGN OFF ON IT) asking if they have interest in it, and if they would apply for title for you, most will not so then they just write a signed notorized letter stating they have zero interest and thats that. Plus
I always call the local PD and give them the vin they check it out and if they have time or want to they can do a nationwide search also.
If it comes up clean I buy the bike ,atv or car I do that first before any cash leaves my hands, I call the pd from the persons home who is selling it, and if they know it's hot they will change their mind on selling it to ya really quick when they hear the conversation.
Had that happen once hahaha I get my bond right from my insurance company ( State Farm) cost 50 bucks for any amount up to 5k.
after 3 years of being bonded no one can claim they own it but you the one with the bonded title and you can even sell it with a bonded title.