What Can Be Used For Collateral When Posting Bail
Getting arrested is a scary and stressful time for anyone. Whether you are a tourist from out-of-state or a local resident out for an evening of fun, getting arrested in a city like Las Vegas is not something one plans to do. It is better to be proactive rather than reactive should you ever find yourself sitting in a jail cell. By being aware of what you own that qualifies for collateral when posting bail is the first step in securing bond.
Will Your Bond Require Collateral?
Not all bonds require collateral. Bonds are based upon several factors including:
- risk assessment
- bond amount
- kind of case
- stability of co-signer and defendant
- probability of defendant showing up for court
My Bond Requires Collateral. What Can I Use?
Vehicles are a very common type of collateral. Other types of titled property include motorcycles, recreational vehicles, scooters, etc. With this type of collateral, the bail bondsman becomes the lien holder. In certain situations, the bondsman hold the title and the vehicle too.
To use real estate, such as a house, for collateral, you must visit the property records office for the county in which the house is located. The property records office is usually located in a county courthouse. You must file for a deed of trust, making the bondsman the beneficiary. Once the deed is filed, the bondsman has a lien on your property and can take possession if you default on your agreement. Proof of the filing is often required before a bondsman will post your bond. The lien against the property remains in place as your case moves through the court system. When the case is finished, the court must exonerate the bond before you can remove the lien. Be sure to obtain a certified copy of the exonerated bond, you will need it to remove the lien.
Nontraditional Items of Value
Nontraditional items of value include such items as jewelry, antiques, boats, and art.
Cash is King
Using cash for bond simplifies the process. For one, it simplifies and minimizes paperwork. Cash keeps the co-signer from having to interact with the courts. Using cash also makes the process more private. Cash is easier to obtain when the bond is low. At 8-Ball Bail Bonds, co-signers are always given the opportunity to pay bond amounts and any fees first, before submitting items for collateral.
Don’t Have Collateral?
If you have no cash or collateral to secure bond, there is another option. 8-Ball Bail Bonds offers GPS ankle monitoring bracelets. These are used if it is a risky bond and there is no collateral to secure it.
Whether we like it or not, sometimes things just happen. No one goes on vacation with plans to be arrested. Suppose you take visiting relatives on a tour of your town and you are the one to somehow get arrested. Being educated about what can be used for collateral to secure bond is important. While stressful and scary, try to remain calm and try not to panic. Remember these tips for types of collateral and know what sources you can use if you are arrested. While the wheels of justice may turn slowly, being out on bond is much better than remaining in jail. 8-Ball Bail Bonds takes a pro-active approach and walks their clients through the bond process. Available 24/7, the staff will make every effort to post your bond in a timely manner so that you can remain free until your day in court. Should you find yourself or a loved one in need of bond while in Las Vegas, contact us. We’re here to help!