4 Bail Bonds Collateral Items When Cash Is Not An Option
by Albane Francois
When you hear about bail bonds, you will probably think of cash. Currency is a common method, but you have other collateral options if you are short of cash. Collateral gets returned after the case gets completed, whether your loved one is innocent or not. However, if the person for whom the collateral got offered doesn't appear in court, the collateral gets seized by the jail bail financing business.
Below are various types of collateral with which you can post bail.
1. Real Estate
A piece of land or premises you own can serve as collateral for bail bonds. The property must have value, be in good shape, and shouldn't be under a mortgage. You cannot use real estate to post bail if you aren't the property's primary owner. If you don't own real estate properties, your family members can offer properties on your behalf.
To offer real estate, you file a deed with your county courthouse. The deed signifies that your property's title is now under the lien of a bail bonds agency. You can still use the property, but the legal title remains under the lien of your bail bonds company until your loved one's bail is released.
2. Automobiles
Courts don't usually take an automobile title as collateral, but most jail bail financing businesses do. You can use any automobile for this collateral, e.g., bikes, trucks, boats, yachts, aircraft, etc. The value of your used car covers the whole amount for non-violent cases, e.g., DUI bail bonds. You still use your automobile as long as the defendant shows up in court.
3. Valuable Items
Your jail bail financing business may accept pawn-able items like jewelry, electronics, antiques, stone, and art pieces as collateral. A bail bondsman ascertains the item's value, required bail value, and proof of ownership. Unlike real estate and automobiles, your bail bonds agency takes the valuable items into its possession.
4. Stocks and Bonds
Pledge your bonds, stocks, and other investments as collateral to post bail. When you do so, you hand over the legal ownership of the investment to your bails bond agency. The investment's value should be higher than the bail. Once the bail bond is exonerated, you get your investments back. You'll need proof of ownership, for example, with discs or a hard drive.
Conclusion
Jail isn't a pleasant place, so you are more at peace if you get your loved one out within a short time. You can persuade your trusted jail bail financing business to post a riskier bond with collateral. Because different agencies have different policies, read and understand the policy before you sign any item as collateral.
For more information, contact a company like Air Capital Bail Bonds.
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How many times have you put off making repairs around your home because you didn't have the money to make them immediately? Have those decisions caused even more repair bills because you waited to make the repairs? I have done this several times in the past, and, oftentimes, not making those repairs have cost me far more to complete because the damage spread. The whole reason I created my blog was to help others find the financing they need to make home repairs without worrying about choosing the wrong type of financing option. Hopefully, my hard-learned lessons will help you avoid the same struggles that I have undergone.