A bail bond is generally the sum of money one must remit to get a defendant out of jail after meeting certain conditions. However, before calling a bonds agent, the applicable payment is undeniably a vital factor to consider. Indeed, most people think that debit cards, credit cards, or cash are the only forms of payments acceptable by the bonds agents. However, collateral bonds are also an option you might want to consider. When you opt for collateral bail bond alternatives, here are three crucial aspects to keep in mind:
One essential aspect to consider when deciding on bail bond alternatives is acceptable collateral type. Other than cash, you can use properties like vehicles or houses. Additionally, items like precious metals, including jewelry, silver, and gold, can make excellent collateral options. Furthermore, financial options like savings or investment accounts might be ideal. Most importantly, the type of collateral that will be accepted as a bails bond significantly depends on the type of agent you choose. Every agent will have specific collateral forms applicable, and it would be prudent to research more about this before selecting your bonds agent.
If your bonds person allows the use of non-cash collateral as a bail bond, there are particular requirements you must meet. Such requirements are necessary to determine proof of ownership for the property you are giving. For instance, if you own and want to use your real estate property as collateral, the bonds agent might demand to see a title deed. This deed must explicitly show proof that you legally own the property. Besides, it must prove that no tax liens are imposed on the property, meaning it's candid and transparent. Meeting all the ownership requirements in your current state allows you to use your property as collateral.
Collateral and Co-Signers
As a defendant, you might be lacking the requisite collateral but have someone else who's willing to set their property up for collateral on your behalf. If that's the case, everything is processed similarly to someone offering cash for the appellant's bond. However, it's imperative to understand that if someone else offers their property for collateral, they automatically become co-signers on the bail bond. That means co-signers must provide proof of ownership, such as a deed for the property as well. As is with any real estate property, using a vehicle as collateral must be accompanied by a clear title indicating proof of ownership.
These are the three essential aspects to keep in mind when considering collateral bail bonds alternatives. Work with a reputable bonds agent who can offer advice and guidance regarding collateral property for your bail bond. Contact a bail bonds agent to learn more.Share