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The Most Commonly Accepted Forms of Collateral for Bail Bonds

A wad of cash, books, and gavel as collateral for a bail bond

Life changes in an instant. And before you know it, you can find yourself having to post bail or help a loved one post bail. Depending on the charges, the amount will vary, but it can often catch people by surprise. There are different ways that someone can post bail, and often collateral can be accepted in lieu of cash funds. Bail is a kind of collateral that guarantees a defendant or accused party will return for their court date and not disappear. Bail amounts are sent by judges and depend on the type and gravity of the crime. However, if you own valuable property, this can also be used to help you make bail in the absence of cash or immediate funds. 

As we have discussed in previous posts, bail is a type of promise that you make to the court that you will return for your court date and court hearings. This promise is important because while people await their trial, they still need to continue working, paying bills, providing for their families, caring for family members, etc. This is why bail can be important to keeping your life as normal as possible until you see your day in court. 

What is Bail Collateral? 

Bail collateral is offered in place of or in addition to bail money. This means that a person that is arrested can put up their property or valuable belongings in place of a cash payment. Collateral can take many forms, depending on the amount and the kind of assets you have. This is also useful because people often have to post bail at a moment’s notice. It’s not always easy to come up with a certain amount of cash. 

What Kinds of Items Can Be Used as Collateral? 

Most people have some form of transportation. Your vehicle is one form of acceptable collateral for bail. It is understandable, however, that you might need your car to get to work. So you may keep your vehicle during your trial, although you will have to give away your car title. If they miss a hearing or court date, then the vehicle will be seized. 

There are a few guidelines in using your vehicle as collateral for bail:

  • If you are still making payments on the car, it’s not possible to use it as collateral. You must own the car.
  • The vehicle must be in good shape. It must be in good working condition. 
  • The vehicle must have updated insurance and registration.
  • You must have the title.
  • The vehicle must also be equal to or greater than the amount of the bond.
  • The vehicle must be registered locally and/or in the state in which you are facing charges.

Real Estate 

Perhaps one of the most common forms of collateral used for bail comes in the form of personal property. One of the advantages of using personal property as collateral is that the value of the property can be assessed quickly and will usually cover larger bail amounts. At the same time, a property cannot be lost or concealed. This is why it is a common and useful type of collateral. Types of properties that can be used as collateral include:

  • Family homes
  • Vacation homes
  • Investment properties 
  • Farmland
  • Acreage 

You also need several documents in order to successfully use your property as bail. These include:

  • A grant deed or deed of trust
  • Mortgage statements (for equity security) 
  • Any refinancing documents 
  • Typically an appraisal will be done
  • Confirmation of your ownership of the property (title search) 

Investments & Savings

Other forms of collateral can be taken in the form of business shares or stocks. If you have assets in the form of any one of these, they can often be used to secure your bail if the value of the stocks and/or shares equals or is greater than the bail amount. The accounts are easily liquidated, and so it makes it an acceptable form of collateral. 

Jewelry 

A less commonly used form of collateral is in the form of jewelry or precious metals. Similar to the others, the value must be equal to or greater than the bail amount. When using jewelry, it must be professionally appraised to determine its value. This is a way to officially determine its current value, as the value of jewels and precious metals are often changing. 

Firearms

Perhaps less commonly used are certain types of firearms, including long guns and handguns. As all collateral, it must be proven that the value of the guns is equal to or beyond the value of the bond. 

Find a Trusted Bondsman In Your Area 

Facing jail time is no joke. It is scary and comes with many complications because life cannot stop. This is why we help people in the El Paso area post bail and return to their normal lives until they face the justice system. Find out how Freedom Bail Bonds can help you or a loved one facing arrest and an upcoming bail hearing. 

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Important Facts to Know About Co-Signing a Bail Bond & More

Co-signer signs a check to bail a family member/friend/loved one out of jail!

Things happen and sometimes situations get out of our control. Many people in America have found themselves in a difficult spot when their loved one is accused of a crime and has been arrested. When your loved one or relative is in a tight spot and finds themselves in jail, you’ll likely go to great lengths to get them out. Bail bonds exist to let people out of jail while they await their trial. It’s important to be informed about the process, however, before you sign on any dotted lines. One of the frequent questions is about co-signing a bail bond. 

As we have covered in previous posts, the history of bail in the United States goes way back to the country’s early history. The eight amendment bail clause prohibits excessive bail amounts and the fundamental purpose of bail is to simply tie a defendant to his/her jurisdiction, so that they may be tried in a court of law. The idea is that since people in the United States are innocent until proven guilty, holding them in jail until their court date may cause damage to their way of life or families. The bond is a promise that they will remain in the area and will show up to court. The bond system has undergone several changes throughout the country’s history. 

Co-signing means that a person signs a promissory note or an indemnity agreement that financially obligates them to pay the full amount of the bond if the person does not appear for their court date. Once the bond has been signed, your loved one will be released pending the resolution of their court case. 

You may be required to put down some collateral. By co-signing the bail bond, you are agreeing to take on the responsibility of that bond. If the person does not appear in court when they are scheduled to appear, it might mean that you will be required to pay the amount. Because of this, in some cases, collateral may be required. This might involve tangible assets and property like cars, homes, cash, and more. This is simply a kind of guarantee to the court that if the bond forfeits, the debt will be paid.   

You have the duty to ensure the accused appears in court. By taking on the responsibility of the bail bond, you are, in fact, taking on the greater responsibility of ensuring that the accused appears in court on their given date. If the defendant does not show up to their court hearings, you could be held liable for the entire bond amount. If the person meets their requirements and shows up to their hearings and court dates, you will only be required to pay a small amount of the bond—usually about 10%. 

You do have some say about the terms of the agreement. As a co-signer, you are able to request some stipulations before signing. You can request, for example, that the defendant receives drug treatment or subject themselves to a mental health examination. You can ask that the bond be withdrawn if the defendant continues to partake in these illegal activities to which you have advised against. If these activities continue, as a co-signer, you have the ability to request the bond be canceled and the accused be returned to jail. 

You can have the accused return to jail. Just as with the above, if the accused flees or tries to avert their court date, you can inform the court of the person’s whereabouts and have them returned to jail. 

The moral of the story here is that co-signing a bail bond is no laughing matter. It is something that should be thoughtfully considered. This should be an agreement you are comfortable in doing and one where you are confident the person will fulfill their requirements. A lot of times, the emotional chaos of having someone you love in jail can cloud or disrupt this judgment. Taking on this responsibility is a big commitment. 

Requirements to be a Co-signer

Not everyone can become a co-signer for an accused. There are certain requirements that must be met by law in order to be allowed to sign on behalf of a defendant. In order to co-sign, you will have to show proof of employment, financial capability, residency, and more. The particulars of these laws might vary slightly by state. Essentially some of the main things that will be taken into consideration before a person can sign a bail bond include: 

  • Employment history
  • Criminal history 
  • Available collateral 

Find Out More With Freedom Bail Bonds

If you have a loved one that has been put in jail, give us a call. We can walk you through your options or the process of co-signing a bail bond if that is what you are prepared to do. We are happy to answer your questions. Call Freedom Bail Bonds today.