If you, a friend or a family member is under arrest, you need to know how to secure bail. In most cases, people post a cash bond. But for a higher bail amount, they may seek the services of a bail bondsman company. The court accepts some of the following things as collateral if one cannot post a cash bond.
- Real estate property
- Bonds and company stocks
- credit cards and cash
Any real estate property including apartments, homes, and land can be used as collateral. The bondsman will ask for the title deed before signing the bail agreement document. They must prove ownership of the property first.
Valuables include motor vehicles, farm equipment, and boats. You can also use expensive jewelry and antiques as collateral. Smart devices and other forms of electronics may be used. The bondsman will review the bail amount first and the ownership of the items that you choose to use as security.
Stocks and bonds
A bondsman company will accept stocks and bonds as collateral. You should hand over the stocks to their custody and assign ownership to them. You will recover your stocks after the case hearing and acquittal of charges of the defendant.
Credit card or cash
If you post bail through a bail bond company, they may ask for a credit card. They may run the card to recover any losses they incur in case the defendant fails to appear in court. Bondsman companies may also ask for cash in addition to the premiums to act as collateral.
The bondsman can legally recover his loss in case of bail forfeiture when a defendant does not show up in court. It is good to be careful when signing the bail agreement and providing collateral for your friends and family members to avoid property and other valuable losses in case defendants violate bail conditions.