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3 Collateral Types To Secure Your Bail Bond

Fizeradmin • Oct 05, 2018

A bondsman or bail bond company can help you or your loved one affordably be released from jail after they have been arrested. Depending upon your financial situation and amount of bond set, it might be difficult to for you to pay your bail amount in cash.

That’s where bail collateral comes in to play. Whether you are in Montgomery County Jail or Robertson County Jail , bail bond collateral laws will apply there as well.

Bail collateral is used to secure the value of the bond when you pay a bondsman a bail bond premium, to pay the court the full amount of your bond to release you from jail. In short, collateral can come in many forms and is required to assure the bail bonds company that the defendant will appear in court when he or she is required to do so.

What Is Used For Bail Collateral?

Bail collateral is limited to only things of tremendous value that can be easily liquidated in the event that you or someone you know has had their bail secured by a bondsman and they do not show up for their court date. Over this next section, we will take a look at the 3 most common resources that people can use as collateral.

1) Vehicle Titles

When a person owns a vehicle and they have a clear title on that vehicle meaning that they do not owe any money for it, then it can be used as collateral or a bail bond car title . Other types of saleable vehicles that can be used in Tennessee can include:

  • Cars, trucks, and SUVs
  • Campers and trailers
  • Boats
  • Motorcycles
  • ATVs and snowmobiles

Like other types of collateral, you will forfeit the vehicle if the Defendant cannot go to all hearings as required by the court.

2) Real Estate

Real estate is a common choice for bail collateral. Putting a house up for collateral for bail is the go-to solution in many collateral situations. The term real estate can refer to a home or other kinds of structures. It can also refer to a piece of land or the natural resources (minerals, water, crops, etc.) located on or within a parcel. A bail bond lien on property can be something you own personally or come from another consenting owner.

Tennessee requires you to execute a deed of trust with the office of the register Tenn. Code Ann. § 40-11-122 https://codes.findlaw.com/tn/title-40-criminal-procedure/tn-code-sect-40-11-122.html in the county of property ownership.

3) Investment Accounts and Savings Accounts

If you have an Investment or savings account, it can be treated as bail bond collateral. For example, you can use:

  • Certificates of Deposit (CDs),
  • Stocks
  • Bonds

These types of investments and savings are usually as good as cash since they require very little time and effort to liquidate.

Do All Bail Bonds Require Collateral?

If you do not pay your full bail bond amount in cash and you secure your bail through a bondsman in Tennessee, then you will be required to  “collateralize” your bond. A no collateral bail bond doesn’t really exist in Tennessee since the bond needs to be collateralized to guarantee Tenn. Code Ann. § 40-11-151 https://codes.findlaw.com/tn/title-40-criminal-procedure/tn-code-sect-40-11-151.html the Defendant will appear in court.

Bail collateral, whether it be cash or tangible assets, are usually returned within one week of case conclusion and all collateral is remitted back to the owner when the matter is resolved whether the Defendant is found innocent, guilty, or exonerated. In Montgomery County and Robertson County Tennessee, call the professional bondsman at Fizer Bonding Company LLC for more information on how collateral can help you secure your bail bond. Our Professional bondsman are 24/7 available every day of the year by calling (615) 667-1109.   If you have additional questions about how bail works, see our web page on Bail Process.  

 

**Disclaimer**

Please be advised that neither Fizerbailbonds.com or Fizer Bonding Company LLC is not an attorney nor law firm and does not provide legal advice. If you are seeking legal advice, you are strongly encouraged to consider consulting with a competent attorney in your jurisdiction who can provide you with legal advice on your particular matter where individual state, county or city laws may apply. Fizerbailbonds.com provides INFORMATION ONLY and the information provided is for informational purposes only AND IS NOT TO BE CONSTRUED OR SUBSTITUTED FOR LEGAL ADVICE. THE INFORMATION INCLUDED IN OR AVAILABLE THROUGH THE SITE MAY INCLUDE INACCURACIES OR TYPOGRAPHICAL ERRORS . No guarantees are made and the use of the website, content, and any information provided is at your own risk.

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