Property Bail Bonds
This is called a property bond. These are very useful when cash isn’t an option. Property bonds utilize the equity in the property owned by an individual to assure the court that the defendant will appear on their court dates. If the defendant does not show up for court, the property used as collateral for the bail is at risk of being taken by the court.
Property bonds can be an option to post bail if the detained has little cash but enough equity in their property to cover the bail amount.
Property that can be used for collateral includes land, homes, buildings, etc. If the judge sees there is enough equity in the property to cover the bond amount, the court may consider the property as collateral. Any property taxes on assets considered for a property bond must be up to date. The court is likely to deny any pledged property for use as collateral if there are any liens on the property for past due taxes.
Posting a property bond begins with a court hearing to determine the property owners, value, and equity. Legal documents such as deed, title history, lien holders, mortgages and property appraisal are required. All property owners must attend the hearing.
The court then sets the property value by considering amounts owed and the current value. Courts usually require equity from 150% to 200% of the amount of the bond.
If the court rules the equity is enough to secure the bond, paperwork is then created to detail the terms of the property bond which must be signed by all deed owners.
If a property meets the collateral conditions, the court will secure a lien on the property for the bail amount. If the defendant attends all required court dates, the case is closed. If the defendant jumps bail or fails to appear before the court, the court then has the right to begin foreclosure proceedings to take the property. If this happens, if the property owner cannot come up with the money to cover the bond amount, the court can foreclose on the property and sell it to cover the bond amount. The court may also seek to recover any difference between the amount received in the foreclosure sale and the amount of the bail that was secured by the property.
The defendant’s inocence or guilt does not determine whether or not a lien is released by the court. The criteria for getting the property lien released is based on the defendant’s attendance at their court hearings. If the defendant attends all their hearings, the court will release the lien on the property when the case is closed.
A property bond may be obtained from a bail agent. Call 1738 Bail Bonds for info on all types of bail bonds in Kansas City, Missouri. 1738 Bail Bonds offers: Jackson county bail bonds, Platte county bail bonds, Clay county bail bonds and Cass county bail bonds. Call Now!