How To Put A Lien On A Bond

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To secure a bail bond, most bond companies require some form of collateral every bit proof that y'all tin pay if the terms of the bond are violated. Depending on the amount of the bond, the bail company might require y'all to apply your house every bit collateral. Even if you take other avails that could pay off the bail, many bail companies prefer the security of having real manor every bit collateral. However, keep with caution when putting upwardly a firm for bail. If the defendant misses a trial date, the bond bond company can foreclose on the house without alert.

TL;DR (Too Long; Didn't Read)

Putting a business firm up equally collateral for a bail bond involves entering into an understanding with a bail bail company and filing a deed of trust with the canton recorder.

Understand How Bail Bonds Work

Understand bail bonds. When someone is charged with a crime, the courtroom often issues a bond amount. This bail is the amount of money that must exist paid earlier the defendant tin be released from jail while awaiting his trial engagement. Bail is designed to ensure that the defendant will bear witness up for his court dates.

In reality, the full corporeality of the bond is not required as payment. Instead, a percentage of the total bond, plus a promise to pay the full corporeality if the defendant doesn't evidence up in court, serves as the bond. Country police force determines what percentage of the total bond is required to bail someone out of jail.

Bail Bond Companies Expect Collateral

Bonds are issued by bail bail companies that have been contracted either by or on behalf of the defendant. The company expects to be paid the pct of the bond required past the courtroom, plus a fee for its service, past the person who is hiring information technology. Information technology likewise expects collateral, because in issuing the bond to the court, the bail company is on the hook for the whole bond amount should the accused skip a court date. The collateral is proof that the visitor could and then collect that amount from y'all.

If you want to put your house upwards every bit collateral, y'all will need to make a deal with the bail bond visitor. It will tell y'all how much you take to pay upfront, the corporeality of the fees and involvement information technology will accuse (the bond premium), and what documentation information technology volition crave on the collateral, such as proof of ownership and property valuation. The amount of the bail premium bail bond companies can accuse varies from state-to-country. Some states require a flat 10% premium, while other states listing a maximum percentage or dollar amount. Several states' laws don't list a maximum.

Filing With the Canton Property Records Office Secures the Bail Bond Company's Involvement in the Holding

Next, the bail bond company volition require you to formally document their interest in the dwelling house. You may need to visit your county's property records function, which normally is at the county courthouse, to file a deed of trust making the bail company the beneficiary. Some states at present allow title companies, realtors, law firms and sure other businesses to file deeds electronically, so your attorney may be able to handle this filing for y'all.

One time filed, the deed means the bail company has a lien on your property and can take possession of it if you default on your understanding. The bail bail company might require proof that you accept made this filing before information technology posts the bond with the courthouse.

After the Legal Matter Has Been Resolved, Take Action to Release the Property Lien

For the duration of the instance, the lien confronting the property remains in identify while the wheels of justice spin. Once the case is completed, whatever the consequence, the court must officially exonerate the bond before you tin remove the lien. The defendant'south attorney should request the exoneration of the bond from the courtroom. Asking a certified copy of the bond exoneration order.

Nowadays a certified copy of the exonerated bond, the balance of whatsoever interest that has accrued over the class of the case, plus a written request that the lien be released to the bail bail company.

The final step is to collect a reconveyance — proof that the lien has been released — from the bail bond company. Typically, the company has 30 days to provide you with this documentation. If it does not release the lien, you might be able to sue it for amercement.

Source: https://legalbeagle.com/6037894-put-house-up-bail-bond.html

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