Why Property Bond?
When you are in jail and you want to get out fast, the most common solution is to get a bail. While getting a bail bond in Charlotte is one of the most common ways to get out of jail fast, not all types can work for you.
Not all states allow property bonds. In Charlotte, NC, you can take advantage of property bonds and get out of jail fast. This is highly applicable if you have properties that have demonstrable value, particularly your home or other real estate properties.
Because you are using your property as a bail bond, property bonds are classified as collateral, hence, secured bond. That means, if in case you fail to abide by the rules as stated in the bail agreement, the property posted as bond will be forfeited.
Getting a property bond is your best option especially if you don’t have cash. While you can use your properties to secure your temporary release from jail, the process is complicated.
Bail bond companies in Charlotte like Champion Bail Bonding can greatly help you process a property bond. A reliable bail bond company like Champion Bail Bonding provides fast and reliable bail bonds services – explaining everything there is to know about a property bond.
Things to Remember
Before you get a property bond, consider these factors:
- Value of the property – Not all properties are qualified to be used as a bail bond. The equity of the property being used as a collateral should be higher than the required bail – at least equal to 1.5 times the amount set by the court or the judge. For example, if the required bail is $30,000, the equity of the property should be $45,000.
- Not mortgaged – Generally, a property with a mortgage is not allowed to be used as a bail bond. However, under certain considerations and depending on the state’s law or judge’s condition, properties with a mortgage is allowed as long as the available equity is still higher than the requested bail amount. For example, if your property is worth $100,000 and it has a loan of $60,000, then the equity available is $40,000.
- State laws – As mentioned, not all states allow property bonds. Check with your current state law if you can use a property bond to be released from jail. If you are in Charlotte, NC, a property bond is allowed.However, you still need to check with the court or your bail bondsman regarding state-specific laws and processes in getting a property bond.
- Commitment – Like any type of bail bonds, failure to comply with the bail agreement and in showing up during court trials will most likely result in loss of property. The court may then implement foreclosure of the property and collect the payable bail amount and lien.
So, before getting a property bond, it is important that you fully understand how bail bonds work and hire the services of a reliable and efficient bail bondsman.
Champion Bail Bonding has proven time and again the quality of bail bonds services we provide. We provide 24 hours, 7 days a week bail bonds services in Charlotte, NC.
If you need to use a property bond, contact Champion Bail Bonding at 704-900-6099.