Bail Bonds: A Look At Common Bonds Used In Legal Situations
Most people never expect that they will have to know a lot about things like legal charges, court appearances, and bail bonds, but things in life can create situations when you have no choice but to learn. Whether it is you who personally ends up in jail or a family member, understanding the legal jargon that can be used gives you a leg up when trying to wade your way through a difficult situation. Bail bond terminology is the perfect example of something you do need to know if someone gets arrested. There are a few common types of bail bonds.
What is an appearance bond?
An appearance bond is basically the typical type of bail bond issued. The secured appearance bond is a legal agreement between the person in jail, the court system, and a bail bond agent. The bail bond agent will usually put up bail money and you will agree that you will appear in court at your scheduled appearance date. If something happens and you don't hold up your end of the bargain, not only will the bond money be held by the court, the bail bond agency can pursue you and turn you into the court to get their money back.
What is a property bond?
A property bond is a legal transaction that does not involve the exchange of money; instead, the property bond involves you signing over a piece of tangible property to a bond agent or to the court in exchange for your freedom. The property is held by the bonding agency or the court as collateral until you pay your bail money back or when you appear in court and the bail money the bonding agency placed is released. Property bonds are fairly common because people do not always have a lot of cash to make bail.
What is a surety bond?
Some bail bond agencies have a longstanding relationship with the court system, so they are able to do surety bonds. Surety bonds allow you to be released from jail with paying only a small portion of what your actual bail amount is. This transaction most often takes place through a bonding agency. If something happens and you do not follow up in court as you are supposed to, the full amount of your bail will be due, which means the bonding agent will have to pay it, but they will pursue you to turn you in and get their funding back.