The 3 Most Reliable Forms of Bail Bond Collateral
If you or your loved one was recently sent to prison, you may be anxious about how to post bail. Cash bail is often purposely expensive to prevent the defendant from leaving prison before their trial. If you or your loved one cannot afford to post bail, working with a reputable bail bond company is a tried and true solution.
What Is Bail?
Bail incentivizes a defendant to return to court for their scheduled hearings. The amount set for bail depends on various factors, from the defendant’s standing in the community to their past criminal history. If you make cash bail for yourself or a loved one, the amount will be returned to you in full if the defendant shows up to court. If the defendant fails to attend their hearing, you forfeit the cash. A bounty hunter will pursue the defendant to get them to appear in court.
When Cash Bail Is Not an Option
Many individuals are forced to remain in prison if their bail is set to an astronomical number. But cash is not the only form of bail bond collateral. If you or a loved one cannot afford to make bail, you can hire a bail bond company. By paying a fee to the bail bondsman (10% in the state of Texas) in cash, providing some form of collateral, and paying a small percentage of the set bail, you can secure your or your loved one’s release from prison.
Real Estate
You can use any piece of property that you own as bail bond collateral, such as your home or land. You must file a deed of trust with your county courthouse to signify that the bail bond company has authority over your property. Your attorney may also file the deed on your behalf. The lien on your property will be lifted after the bail is exonerated (terminated).
Real estate cannot be used as bail bond collateral if you are not the primary owner of the property. Property that is damaged or fit for demolition also cannot be used as bail bond collateral.
Valuables
Valuables big and small may count as collateral. Vehicles, yachts, and boats (in good condition) are common forms of bail bond collateral. As with using property to make bail, you must show proof that you are the title holder of the vehicle or boat. High-quality jewelry (diamond rings, necklaces, watches), antiques, and silver or gold bars are usually accepted by a bail bond company. Electronics (laptops, sound systems, etc.) can also be used as bail bond collateral, but they must be of worth (i.e., in good condition and in high demand).
If you are primarily using smaller valuables for bail bond collateral, consider that the bail bond company will need to appraise your items and store them. You must agree with your bail bondsman on the appraisal value, how your items will be stored, and who will pay the storage fees, if any.
Stocks and Bonds
You may be able to pledge your stocks, bonds, and other investments for bail bond collateral. Legal ownership of the stocks or bonds must be handed over to the bail bond company. Evidence of your assets can be shown through discs or a hard drive. Your investments will be returned to you once the bail bond is exonerated.
A Way Out Bonds Is Here For You
We are proud to serve clients in the Dallas, Texas, area who struggle to make cash bail. As an experienced bail bond company, we understand how to quickly and efficiently navigate the complexities of the legal system to get you or your loved one out of prison. Call us 24 hours a day, seven days a week at (214)-760-9978 for a consultation. (Se habla español.)