Law Forum : Would You Put Your Home Up For Bail / Bond

Destee

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Peace and Blessings Family,

We've all heard tell of folk putting their house up, for someone else's bond or bail.

I've never done this, but have wondered, how does it really work.

Let's say i put my house up for someone, under what circumstance do i lose my house?

Do i lose my house if they are convicted of the crime?

Do i lose my house if they flee?

What if they flee, are found by the bondsman or police, do i get to keep my house?

I'm sure the system has obtained many a piece of property this way.

Would you put your house up for someone's bond or bail?

Does anyone know how it really works?

:heart:

Destee
 

cherryblossom

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A BAIL BOND is a financial guarantee that a defendant will show up for a court appearance or trial.

The court sets the amount of Bail. Then, a Bail Bondsman puts up the money for the Bail and charges usually about 10% of the Bail amount for this service. If a Bail is set at, say, $250,000, then $25,000 (plus other fees) is what they charge the person buying the Bail.

A Bonding company is in business to MAKE money, not lose it. So, someone may be asked to put their house up for insurance IF they think the defendant won't appear for court. If the Bonding Company has to pay the Court, it will want its money BACK. So, You'll have to sign a "deed of trust" naming the Bonding Company as "beneficiary."

That "trust deed" will be recorded with the County Reporter as a lien against your property.

If the defendant does NOT appear for court and the Bonding Company has to pay up, YOUR HOUSE will be placed in Foreclosure and sold at Public Auction to recoup/recover their money.

If the defendant DOES show up for court, then at the end of the trial or court appearances, ask the defendant's attorney to ask the COURT to "release" the Bond and ask the Bonding company what other documents are needed to release the lien against your property. (ALSO MAKE SURE YOU'VE PAID THE BONDING COMPANY ALL FEES AND INTEREST ACCRUED.)

Get a CERTIFIED copy of the Court Order which releases the Bond, send a copy of it and whatever other documents with a letter to the Bonding Company requesting that they release the lien.

The Bonding Company has 30 days after the Bond is released to release the lien on your property.

Once the Bonding Company has released the lien, have it recorded with the County Recorder.
 

Destee

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OMG ... Thank You Sister CherryBlossom !!!! :toast: :toast: :toast:

I bet folk have done this, without even knowing what to do after, or before, or even what they were getting theirselves into!

Whew!

Okay ... Thank You Very Much!

:heart:

Destee
 

cherryblossom

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And even if the defendant appears for Court, if YOU still owe the Bonding Company money for fees and interest, they get to keep the lien on your property.

Like I said, they're in business to MAKE money, not lose it.

Personally, I would never put my home up for a Bond.

Do you remember the book/movie, "The Women Of Brewster Place" by Gloria Naylor? That's how the mother character "Mattie" ended up in the Projects. She put her house up for her son, Basil, and he ran off. So, she lost her house.

And, sadly, people lose their homes like everyday in real life. They have no idea what it entails and how easily they can lose everything they've worked and sacrificed for their whole lives.
 

Destee

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Yes Sister ... i do remember Brewster's Place, and that part of the movie! It's amazing i even saw it, cause it's not often someone can mention a movie, and i say i've seen it ... but i surely saw that one! You're right, he ran, and she lost her home!

Ya know, it's usually Momma's putting their houses up for their Sons. I am just thankful that my Son has never put me in this position. I think i'd do it for him. I'd probably do most anything for my children, trying to keep them out of prison or something. Which is why i've always told him, please please please, don't do anything that's gonna make Momma (me) hafta go krazee ... oh my gosh. I've told him i can take most anything, except him dying or going to prison. Please don't give me those things, and i can handle all the rest.

No, i've not had to do it ... but i probably would ... :bye:

I bet too, if someone was faced with such, it would have to be a very chaotic, and fast paced situation. Decisions having to be made quick, fast, and in a hurry! The perfect environment for making mistakes, not crossing T's and dotting I's. Making it all the more important to know before-hand, what's up.

Thanks For Sharing!

:heart:

Destee
 

cherryblossom

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How to Put a House Up for a Bail Bond
By Lily Welsh, eHow Contributor updated: May 06, 2010


...Instructions

1
Understand bail bonds. When someone is charged with a crime, the court often issues a bail amount. This bail is the amount of money that must be paid before the defendant can be released from jail while awaiting his trial date. Bail is designed to ensure that the defendant will show up for his court dates.

In reality, the full amount of the bail is not required as payment. Instead, a bond--a percentage of the full bail, plus a promise to pay the full amount if the defendant doesn't show up in court--is usually given to the court.

Bonds are issued by bail bond companies that have been contracted either by or on behalf of the defendant. The company expects to be paid the percentage of the bail required by the court, plus a fee for its service, upfront by the person who is hiring it. It also expects collateral, because in issuing the bond to the court, the bond company is on the hook for the whole bail amount should the defendant skip a court date. The collateral is proof that the company could then collect that amount from you.

2
Make a deal with the bail bond company. It will tell you how much you have to pay upfront, the amount of the fees and interest it will charge, and what documentation it will require on the collateral, such as proof of ownership and property valuation.

3
Visit your county's property records office, which usually is at the county courthouse. File a deed of trust making the bail company the beneficiary. Once filed, the deed means the bail company has a lien on your property and can take possession of it if you default on your agreement. The bail bond company might require proof that you have made this filing before it posts the bond with the courthouse.

4
Exonerate the bond. For the duration of the case, the lien against the property remains in place while the wheels of justice spin. Once the case is completed, whatever the result, the court must officially exonerate the bond before you can remove the lien. The defendant's attorney should request the exoneration of the bond from the court. Request a certified copy of the bond exoneration order.

5
Present a certified copy of the exonerated bond, the balance of any interest that has accrued over the course of the case, plus a written request that the lien be released to the bail bond company.

6
Collect a reconveyance--proof that the lien has been released--from the bail bond company. Typically, the company has 30 days to provide you with this documentation. If it does not release the lien, you might be able to sue it for damages.



Read more: How to Put a House Up for a Bail Bond | eHow.com http://www.ehow.com/how_6037894_put-house-up-bail-bond.html#ixzz1KaJSzwkx
 

dunwiddat

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Sep 17, 2012
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Peace and Blessings Family,

We've all heard tell of folk putting their house up, for someone else's bond or bail.

I've never done this, but have wondered, how does it really work.

Let's say i put my house up for someone, under what circumstance do i lose my house?

Do i lose my house if they are convicted of the crime?

Do i lose my house if they flee?

What if they flee, are found by the bondsman or police, do i get to keep my house?

I'm sure the system has obtained many a piece of property this way.

Would you put your house up for someone's bond or bail?

Does anyone know how it really works?

:heart:

Destee

I would never do it. I have told my children what a former Prime Minister told the black folks here...KEEP OUT OF THE LAW COURTS. I know things can happen that they may not have control over...But I will not put my home for bail, not for my children or anyone else. Just recently a woman lost 40,000 dollars in bail money that she had signed for a friend.
Putting your signature for bail or being a guarantor for a bank loan is something I am not willing to do. This might sound harsh, but that is how I feel.
 

dunwiddat

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Sep 17, 2012
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Generally speaking, one should avoid all forms of pledging whether called collateral, pignus, co-sign, surety, etc.

A bond is a debt instrument. The issuer is the debtor and the receiver is the creditor.
Where have you been Shikamaru:lol:
 

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