Many of us are fairly familiar with the bail bonds system. Hopefully, this familiarity comes from pop culture and other references and not from personal experience. Typically, when we think of bail bonds, we think of going to an office, paying a certain amount of cash, and the agent helping the accused person get out of jail. But what happens when you don’t have the cash? When you don’t have cash on hand for bail, a property bond may help you get your loved one out of jail.
What is a Property Bond?
A property bond is when you use the equity in a home or property to secure a bond instead of cash. Of course, there are many requirements that must be met to use this type of bond. Obviously, whoever is securing the bond must own the property. Additionally, the value of the property must be worth at least 150% of the bail amount. This is because it is more time-consuming for the court to secure a lien on the property than it would secure a cash bond. For this reason, property bonds are somewhat less common than cash bonds.
Risks and Benefits of Property Bonds
Property bonds are a polarizing topic. They can be very useful for some people, but they can also be very risky. As we mentioned above, property bonds are typically used when people don’t have the cash for a typical cash bond. In this respect, they are very useful. If you have a property to offer as collateral, you don’t have to worry about the extra time it could take to raise funds or go without necessities because you had to pay bail. However, property bonds can be a HUGE risk. If the offender doesn’t appear in court or otherwise violates the terms of his bail, you risk losing that property. If this is a family home or business, you risk losing something that can’t be replaced. That’s why it’s so important to make sure that you only bail out someone you know you can count on. That is truer than ever with property bonds.
How To Secure a Property Bond
When dealing with property bonds, experience matters. In order to make sure that the accused person gets out quickly and the paperwork is all done properly, you need to work with a bail bonds agent who is well experienced and familiar with property bonds. Beyond that, you need to make sure that you have all the proper documentation when you arrive at the bail bonds office. You’ll need your deed or proof of ownership of the property, proof of the property’s value, and your driver’s license or ID. If you’re not sure what you need to bring, call A-EZ Out Bail Bonds ahead of time to make sure you have everything in order.
A-EZ Out Bail Bonds Knows Property Bonds
Is a property bond right for your situation? When you come to see us at A-EZ Out Bail Bonds, we can explain all your options and help you make the right choice. If you do decide that a property bond is your best choice, we can help you arrange it quickly and efficiently. Give us a call to start the bail process right away.