When you’re making arrangements to get someone you care about out of jail you may be asked to put up some form of collateral. A bail agency will always charge a fee for their services but in some instances a little more insurance is necessary. The agency is taking on responsibility for the defendant by putting up the money required by the court for his release so if they recognize a significant risk factor they will need reassurance.
So what can you offer as collateral? Anything that the defendant or his co-signer owns that is of equal or higher value than the amount that the court has set for bail will be accepted. This could include a parcel of real estate, a vehicle, stocks or bonds, jewelry or a credit card, for instance.
If you are using a piece of property as collateral your bail agent will ask that you turn over the deed to that property to be locked away until the case has been concluded in court. He may also need to determine ownership and be sure that there are no current liens against the property. Similarly, if you want to apply your truck or car as collateral you will be asked for proof of its value and outright ownership, along with the title to the vehicle.
A fine piece of art or jewelry is often accepted as a form of collateral. The bail agent will typically require that the painting or the jewel be appraised by an expert. Again, collateral is always secured by the bail agency until the conclusion of the trial. Remember that the outcome doesn’t affect the return of the collateral. Once the defendant has met all his obligations to the court the collateral will be released to the owner.
The only real risk there is of losing your collateral is if the defendant fails to make a court appearance or flees the jurisdiction entirely.
BWB Bail Bonds offers counseling services for friend and family members who are facing the ordeal having a loved one incarcerated. Call BWB in Denver @ 720-358-2908.