Anyone who is familiar with crime shows or police procedural dramas on television will probably know something about bail and bail bonds. However, most might not be aware of what is acceptable as collateral for securing a bail bond, and this knowledge will be highly beneficial if you or your loved one is ever caught speeding, gets charged with a DUI, or other potential misdemeanors. Read on to find out some of the things usually accepted as collateral, in the event that you don’t have cash available for posting your bail.
Any house or apartment you own the title to can be used as collateral for securing your bail bond. Just be certain that said house belongs to you in its entirety and is not under mortgage. In some cases, the bondsman might agree to a ‘premium’, under which he will receive his or her 10% fee at the end of the trial, or if and when the property is auctioned off if the client fails to show. In addition, the ownership deed or pink slip has to be left with the bondsman or the court.
This is, in essence, land. Homes are not the only property-based collateral that can be used to secure your bail, but also the land that your home resides upon. The title deed or pink sip has to be surrendered to the bondsman or the court in this case as well, to be held until your court date.
Other valuable items like cars, motorhomes, boats or even farm vehicles might be accepted as collateral by bondsmen. The vehicles have to be handed over to the bondsman or the court for securing your bail. Unfortunately these can be taken if you can’t come up with cash that is equivalent to ten percent of the bail amount.
Valuables such as jewelry, antiques, or other collectibles can also be used as collateral. They will need to be physically handed over to the court or to the bondsman to secure your bail.
Other possessions like electronics – your television, stereo equipment, high-end digital cameras, computers, video game consoles, tablets, smartphones, or other gadgets that might be worth your bail amount will also help you to secure your bail.
Art and artifacts like paintings, sculptures, etc. that are of proven provenance might also be accepted as collateral to secure your bail. This could also include vintage collectibles like classic musical instruments, rare and mint magazines or comic books,
Firearms – ACE DEUCE BAIL BONDS DOESN’T ACCEPT FIREARMS AS COLLATERAL
Firearms are also accepted as collateral to secure bail. They too need to be handed over to your bondsman or the court. You will get them back once your case is heard and you’re acquitted or sentenced, as the case may be.
Your bank account balance can also be committed to the bondsman to secure bail. However, your money will get locked in, and will not be available to you for expenses until your case is heard.
Other valuables or items that can be pledged like collectible curios, antique furniture, or other heirloom pieces can also be accepted (if their value and provenance can be proved), to secure your bail.
Cattle, horses or other livestock and farm equipment might also be viable as collateral to secure your bail. They might need to be left under the care of your bondsman until your case is heard in court.
Whatever you use as collateral to secure your bail, you will get it back after your trial is heard, as long as you don’t miss any of the court appearances. In the event that you miss your court date, the bondsman will be eligible to recover his losses incurred due to your non-appearance, according to the terms of the bail agreement. Once the case is resolved, the bondsman returns the collateral in five working days, or according to the terms agreed upon.