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What Is a Property Bond?If you’ve ever been arrested before, then you know the process can be time consuming and stressful. From dealing with the massive amounts of paperwork to being held for hours and hours on end, you know the whole process can feel like a nightmare. But using a bail bond company can make this whole experience simpler and reduce the stress. If you’re new to bail bonds, it’s important to study up on how they work. You never know when you’ll need to know this information in the future.

While there are different bonds we can discuss, this blog will focus on property bonds. We’ll explain what they are, how they work, and where you can find the most trusted bail bond company in the country!

Property Bond Defined

Typically, bonds are paid in cash.On some occasions, however, property can be used to bail someone out of jail. If cash isn’t available for bail, property is typically the next place you can turn to. Given that most bond agencies charge a percentage of the premium payment for their services, those who are low on cash still may not be able to pay that amount. In these instances, a property bond can work as a cash alternative.

How They Work

When a property bond is used, it basically means that the bond is guaranteed by a pledge of unencumbered equity in real estate located in the same state. In order for the property to be accepted as a bond, the property equity typically needs to be at least 1.5 times the bail amount. Take a look at the types of properties that are commonly used for property bonds:

  • Personal homes
  • Commercial buildings
  • Vacation homes

As with a cash bond, a property bond assures the court that the arrestee will show up to their court date.

What If You Don’t Show Up to Court?

When a property bond is utilized, the court secures a lien against the property, which is set at the amount of the bail. In the event that the accused person doesn’t show up to their court date, then the rights to the property go to the court. In addition, property then may face foreclosure action, and after the proceeding for the foreclosure, the court collects the bail amount that is owed. In the event that the foreclosure sale doesn’t result in a dollar amount that meets or exceeds the full cost of the bail that was secured by the property, the accused will then be liable to pay the difference.

Further Details on Property Bonds

In some instances, a property bond may be denied due to poor market conditions. For example, if a property is found in a place with low demand or low market value, then the court may have a difficult time selling the property if the individual doesn’t show up to court. Property bonds can only be obtained by the court, and it’s important to note that these bonds aren’t allowed in all jurisdictions. That being said, be sure to check the specific rules that pertain to your jurisdiction. No matter what happens at the court hearing, the lien will be released as long as the accused shows up to court. Once the case is closed, the court will then release the lien.

Find Your Solution at D&D Bail Bonds

If you’re looking for a reputable and trustworthy bail bonds company, then D&D Bail Bonds is here for you! We are conveniently located in Gulfport, Mississippi, and we are proud to have a very wide service area! From Harrison County to Perry County, your next bail is found just right down the road! And since we’re open 24 hours a day, 7 days a week, finding the bond you need—when you need it—is easy! All it takes is just a simple phone call to us to start the process of releasing your loved one from jail. From the second you give us a call, you’ll be in good hands with our caring and professional team.

For top bail bond solutions, pick up the phone and call D&D Bail Bonds today!

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