What Happens To Non-Money Collateral After The Court Date?

Bail and bail bonds can be paid for with money or non-money collateral, such as a house or jewelry. The non-money collateral has to have a certain amount of value to ensure the bail bond agent or court will receive the appropriate amount of money if they end up keeping the collateral. People who have not gotten bail bonds before may be reluctant to use non-money collateral because they don't want to lose the item, but they're getting the procedure for money bail bonds confused with the procedure for non-money bail bonds.

Bail Bond Agents Keep Money, But What If You Offered Your House?

If you get a bail bond for someone through a bail bond agent, using money, and that person appears in court as required, then the bail bond agency keeps the money. That's essentially the agent's fee for helping you. You do not owe any other part of the bail that was set by the court. So, in short, what you gave the bail bond agent stays with the bail bond agent permanently.

If you use collateral, though, the agent is supposed to either keep the item at the agency until the defendant shows up to court, or keep the title or deed and place a lien on the item if you used property as collateral. If the defendant shows up at court as required, does that mean the bail bond agent keeps the title to your car forever? Of course not. When you use non-money collateral, one of two things happens. Either the bail bond agent returns the item, deed, or title to you and lifts any liens, or the agent holds onto the item until a specific premium is paid.

When you use non-money collateral, sometimes the bail bond agent will accept that along with some fees, and that will be that. Other times, the bail bond agent may insist on a premium (the money that would normally be paid for the bond) to be paid after the defendant has shown up in court. The bail bond agent usually discusses this premium with the defendant but may ask you about it, too. What you'd do in this case is offer the collateral, and then, after the defendant has shown up in court, pay the premium as soon as you can get it. Either you or the defendant will have to pay it, but once it's paid, you get your collateral back. So, in that case, the collateral is acting as a placeholder of sorts or an IOU.

Collateral Held or Taken If the Defendant Skips Bail

Of course, if the defendant skips bail and doesn't show up, then the bail bond agent takes the collateral and sells it. If you left jewelry with the agent, you don't get the jewelry back. If you left your car title, technically, the agent can take your car and sell it. If the defendant skips out, but the loss of the collateral you left would severely harm your life (e.g., losing your home), contact the bail bond agent immediately to discuss your options.   

For more info about bail bonds, contact a local professional. 

About Me

Need Financial Advice and Tips? Find Them Here

Planning for your future may not be as easy as you wish it to be, especially if you don't know where to look for financial advice. If you're like me, you want to make sure that your loved ones don't have to worry about money in the future, including how to bury me or take care of their surviving parent. But finding the right opportunities to invest your money in can be confusing and frustrating. Luckily, I managed to get through my financial problems without losing too much sleep. Because I wanted to share my knowledge with other families, I developed this blog. I offer sound advice and information about how to find the right investments and what to expect when you look for investments. If you're ready to get started, keep reading. Good luck and thanks for stopping by.

Latest Posts

28 June 2024
When tax season rolls around, many individuals and businesses are left feeling overwhelmed and stressed out. The thought of navigating through complex

20 October 2023
Navigating the complexities of the judicial system can often be daunting, particularly when it comes to understanding bail bonds. This article aims to

6 July 2023
When a loved one is arrested, securing their release becomes a top priority. In many cases, obtaining a bail bond is necessary to facilitate their rel