In case this is your first time to encounter bail bonds, having collateral means either using it either as a replacement or addition to actual bail money. It is both for securing the release of a defendant who has been arrested and to further guarantee that person’s appearance in court.
Upon the defendant’s dismissal of the case and the bond is deemed acquitted, the collateral will be returned to the person.
Usual Forms of Collateral
Through the years, the bail bond industry has developed a more flexible way in accepting collaterals. Here are the most common types for you to quickly come up to speed on.
- Real Estate — The deed to a house can be said as the most often used form of collateral, especially for bigger bail bonds. If your personal or commercial establishment, home, or piece of land contains natural resources such as trees, fruits, flowers, minerals, pond, etc, they can also be added to the overall appraised value.
- Vehicle — This applies to all forms of vehicles, namely cars, motorcycles, trucks, trailers, motor homes, boats, all-terrain vehicles (ATVs), bikes, snow mobiles, and jet skis. For some people, if the model of their vehicle is not that new, they prefer to sell it and secure either the actual bail bond or cash collateral instead.
- Electronics — High-end electronics ranging from premium smartphones, laptops, tablets, to gaming consoles value in the thousands of dollars nowadays, so using them as collateral is hardly surprising.
- Jewelry, Art, & Antiques — This long list of possibilities includes jewelry with silver, gold, and/or precious stones and metals, heirlooms, antiquities such as rugs, dolls, indigenous or foreign legitimate items, furniture, paintings, sculpture, porcelain, and even various collections of rare items such as comic books, baseball cards, and action figures. The tricky part here is to make sure that your potential collateral includes important documents to prove its worth, including a certified appraisal certificate and/or proof of authenticity.
- Cash / Money in the Bank, Investments — This is pretty straightforward. Most bail bondsmen accept the value of investment and stock certificates upon signing a waiver of transferring legal ownership in case the defendant fails to make it to court.
- Firearms — Weapons such as guns and even crossbows of monetary value equal or above bail can be handed over to the court or bondsman.
Know Your Rights When Obtaining Bail Bonds
Here at Cagle Bail Bonds, beyond the actual collaterals, we value our clients’ welfare. This is why we offer free consultation and advice for you to actually plan out a bail bond that will meet your needs. For fast and reliable bail bond services in Denton County, call us now!