A common question bail bond companies receive is: can I just post a property bond myself? The answer is maybe. In this article we will discuss how property bail bonds work as well as the pros of cons. Property bail bond requirements vary county to county and often case by case in California so it's important to contact us in order to provide the most up to date information. The goal of this article is to provide the information people commonly ask about and show much time and resources are needed to put together a property bond on their own. Where our services at the bail bonds company and fast and easy.
Immediately, after incarceration, an accused priority is to get out of jail. Posting bail is generally the greatest way to unrestrained yourself from bars. Bail is a method of court surety bond that is usually paid in cash, bail bond or property that an accused provides to the court as a security that they will appear before the court whenever they will have required to appear. The court may order to cancel the bail and issue a warrant of arrest when the accused failed to appear on the specified date ordered by the court. Generally, a judge is liable for setting the amount of bail. However, in some cases, some prisons in the US have standard bail scheduled demonstrating bail amounts for common offenders. This is especially helpful for offenders of common criminalities and those who want to get out of incarceration rapidly. Paying the specified amount in the stationhouse bail schedule will directly result in the release of an incarcerated person.
Law pertaining to the property bond in California
All countries in California are required by law under section 1298 of the California Penal Code to accept property bond motions. However, other collateral is considering such as bonds, gold, silver and cash. Some court even accepts personal property. To figure out what personal property is accepted, you have to call the court clerk. On other hand, you may have to call the County Council for the county to find out which types they accepted. It is very crucial to talk with the head court clerk. Section 1298 of the California code deals with the property bail bonds;
“Deposit of bonds or equity in real property in lieu of money] In lieu of a deposit of money, the defendant or any other person may deposit bonds of the United States or of the State of California of the face value of the cash deposit required, and these bonds shall be treated in the same manner as a deposit of money or the defendant or any other person may give as security any equity in real property which he or she owns, provided, that no charge is made to the defendant for the giving as security of any equity in real property. A hearing at which witnesses may be called or examined, shall be held before the magistrate to determine the value of such equity and if the magistrate finds that the value of the equity is equal to twice the amount of the cash deposit required he shall allow such bail. The clerk shall, under order of the court, when occasion arises therefore, sell the bonds or the equity and apply the proceeds of the sale in the manner that a deposit of cash may be required to be applied.”
Procedure for the property bond process
A situation where an incarcerated person has a financial crisis to pay the bail decided by the county court. In this situation, a judge has the authority to allow a defendant to post property (real property) as bail. When an incarcerated person posts a property bail, he pledges the value of real property to the court as a guarantee that the defendant will return to the court when ordered. However, failure to appear before the court on the specified date, the accused might lose the property as the court will take the property. The defendant has to submit the property bond documents for the hearing stage of bail.
- Gathering Information
Once the court orders your client released on a property bond that your work begins. It is very crucial to understand that the estimated market value of the property minus any amount of mortgage due is the equity that is considered the collateral for the property bond. Moreover, to the documents and information you receive from the sureties and also required the following documents from other sources.
A. If an accused had already been released by the court on an unsecured bond, the Court’s Order of release most likely will have been required
B. A limited title search from a title Company.
C. A real estate appraisal from a certified real estate appraiser.
Information/Documents needed from the Property Owners (Sureties)
1. Property’s estimated market value
The court determines the current value of the property. If the property was bought in the last 12 months, the accused is required to present a tax statement during the hearing to allow the court to determine the property’s current value.
- Balance of all loans
If the property is still under mortgage, then the court will require the accused to be provided with a list of payments amounts and a loan balance for each bank or mortgage company. In such a case, the court will only accept the property as a bond if the equity is twice the amount of the bail.
- Original deed or a certified copy of the deed for the property
In case the property is recently acquired, the accused has to provide a Grant deed, Quit Claim deed, Death Certificate or any other document that will show the change of ownership of the property.
- Appearance of all Persons whose names appear on the deed
The court will require the appearance of all persons at the property bond hearing whose names are mentioned on the deed. However, if the title of the property is held in trust, the accused must represent the Trust agreement to the court.
- Property Liens history
The court also required the property liens from the title company at the hearing stage.
- Current lot book guarantee
This is one of the crucial requirement during the hearing stage. However, the preliminary title report and current lot book guarantee should not be older than ten days.
- Original or certified copy of homestead deed
If the property is being homesteaded, the accused must provide a copy of the original or certified copy of the said deed.
- Undertaking/ Affidavit for validation of bail and Acknowledgement
This is the crucial document which is provided by the Clerk’s Office. If the accused is financially unstable then the accused can ask the judge to lower the amount required by the bail schedule should the suspect believes that the accused could not afford the bail.
- Mortgage Statements (Optional)
If the securities pay the mortgage on the property so the latest mortgage statement will have required. The statement shows the principal amount as well as the total amount still due. If the statement does not show all this information, the sureties should obtain a cumulative mortgage statement from their lenders.
- Grant Deed or Deed of Trust
It is an important requirement which proves the recorded sureties. It also provides the legal details of the property in addition it also includes the APN number of the property. It will assist during the title search.
Information Obtained from Other Sources
1. Property profile
A property profile will provide you with the names of securities, APN number, legal description of the property and other information pertaining to when the structure was built and square feet of the property. Moreover, all the information is a public record.
- Title Search
A property profile report and a title search report are not the same. However, the reports appear to contain the same information, the property profile report cannot act as insurance for the property. Only title search can do this.
3. Property Appraisal
The appraisal is required to be performed by a certified real estate appraiser. A limited drive-by appraisal with three photos comparable should work for your bond purposes. Once, how much the appraisal will cost, advise the sureties of the total cost and obtain a check or money order from them. Historically, a limited drive-by appraisal will show a lower market value than a full appraisal.
- Documents need to be drafted
- Promissory Note
A promissory note that states the sureties promise to pay the bond if the accused does not comply with at least one or more of the court’s conditions of release. It must be signed by all the parties who have an interest in the property.
Deed of Trust
A new deed of trust needs to be drafted, naming the court as beneficiary. In the top left -hand corner of the deed, type the case name. In the body of the deed the following details need to be included;
- Names of the sureties.
- The property address is being posted as collateral.
- Trustee’s names.
- Beneficiary’s name.
- The amount of the bond set by the court.
Can I post bail myself using my house as collateral?
If the defendant who is currently in incarceration is facing serious felony charges or a series of multiple cases, the defendant may be facing a bail bond amount that far exceeds other inmates’ bail bonds. For instance, if an individual is arrested and held in custody with a bail bond amount of $ 250,000, the premium that is owned will be anywhere from $ 18,000- $ 25,000. However, if you don’t have that much money available at the moment. A homeowner that is willing to cosign for the defendant’s bail can place their house up as collateral in exchange for the $18,000- $ 25,000 that is owed. A house can be used as collateral when you are unable to pay the entire amount of the bond and in the instance where you only a partial payment towards the premium.
What happen to my house if the defendant does not appear before the court?
If the defendant does not show up to court so the cosigners on the bond and the home- owner run the risk about the property. If it comes to this, our company will pull all legal documents that were used to place a lien on your property and follow the legal process to take ownership of your property. All equity and profits from selling the home will be used towards the forfeited bail bonds financial balance with the local courthouse.
How can I prevent my house from being taken from me?
After a defendant has skipped bail, the courthouse will give our bail bond company 6 months to apprehend and place the defendant back into custody. If it will not possible in the required period, there will be obligatory directions to sell the home for the money owed to the Hon’ble court.
In order to safe your home, there are few ways that Justice Bail Bonds can assist you.
- Staying on talking with our company.
- Assist our company by bringing the defendant back into custody as safely as possible.
- Keep us updated if you and your family members are able to contact the defendant.
Proof of the real estate value
There are two important ways to prove real estate value to the court. The first way is by obtaining a real estate appraisal with a copy of the appraiser’s errors and omission policy attached. The second way is by using the tax assessed value of the real estate. A copy of the tax assessed value may be obtained from the County Tax Assessor’s office and must go with the property bond. Few appraisers will give you a certified a real estate appraisal with errors and omission insurance within 24 to 48 hours. It is the greatest to shop for your appraisers. Moreover, if you have already a current real estate less than six months old from a recent loan then check with a person in the clerk’s office who has the most experience with property bond procedures. When you order real estate appraisal you should have as much information on your property such as APN number, address, Construction year, square footage etc. It is most important to mention that most of the courts require an Errors and Omissions policy attached.
How to order your title insurance policy?
All courts in California require a title insurance policy for a property bond. Most counties will accept the less expensive title policy on any property bond regardless of the amount. However, there are countries which require the more expensive ALTA or CLTA tile policy on any bond. It is very crucial you must pay close attention to the guidelines in your county when ordering your policy as they vary from jurisdiction to jurisdiction.
Furthermore, when ordering your policy make sure you ask for a time for completion as some title companies may take as much as one or two weeks to complete while others will only take one or two days.
California State Courts Guidelines on Property Bonds
When using in-state or out-state property, make sure you call the court clerk’s office in which you are posting bail to know about the modus operandi, forms and guidelines. All forms are fairly standard, but can vary from state to state. If you have double the real estate equity of the bond and the defendant is not paying you to put your property up to the courts and all payments are current they have to allow it, unless they can prove that any of the property was bought will ill-gotten gains. There is only one appropriate way to obtain the latest forms, procedures and guidelines and that is to go to the court where the defendant jurisdiction lies.
How to qualify your real estate value?
There are several ways to establish an approximate market value before ordering a real estate appraisal. However, the approximate value you receive may be slightly off it will usually give you an approximate idea before you spend your money on an appraisal from a California certified real estate appraiser who must have a copy of their errors and Omissions insurance policy appended to the appraisal. Appraisal cost is distinct for a single family residence than that of multi-family residence, commercial properties and vacant land. Appraisals for a single family dwelling or vacant land will cost from $300 to $500. However, apartment or a multi-family residence can run from $500 up and commercial property can start from $ 750 up. It is very crucial, to be honest with the appraiser in telling them about the property. Moreover, the California state court wants equity to be twice the bail amount.
How to fill out Trust Deed(s), Promissory Note(s) and Homestead(s)
- Trust Deed
If you have any queries on how to fill out your trust deed, simply refer to your local jurisdictional Superior Court guidelines. However, if your county does not have sufficient guidelines then you may use L.A County guidelines as a reference merely. Moreover, use the exact information from your title insurance policy such as name, legal description and address.
- Promissory Note
The promissory note must be notarized and also backs up the deed of trust in case the defendant doesn’t appear. It very important to refer to your local jurisdictional forms, procedures and guidelines.
A declaration of homestead will eat up to $ 35,000 equities. If you need the equity, it is crucial to remove the homestead and then re-record it back on the property. After filling out the Abandonment of homestead, then it will be notarized and the recorded the county recorder’s office.
Benefits of using bail bonds companies
When you and your loved ones ae incarcerated, you automatically think to get out the incarceration quickly by handling the bail situation yourself. However, there are many benefits to using a bail bond service instead, both financially and legally. Moreover, if you want to make the sophisticated situation a little easier to cope with, you should be considering using a bail bond services. There are many advantages of using bail bond services.
- Get out of the incarceration quickly
If you want to get out of incarceration quickly, you must look for a reputable bail bond company like Justice Bail Bonds. Our experienced and licensed bail bond agents assist you and your loved one from the commencement of the process till the grant of bail. The courts tend to be conservative about the modus operandi in addition to handling of any situations in a short time. We provide online and physical services as per your availability. We will handle your paperwork quickly in order to save your time rather than you can yourself do it, which actually required time.
- Lowest rates
The amount of the bail is set by a judge. The amount depends on the nature of your crime. Bail generally tends to range from 500$ to 20,000$. If you are unable to pay the bail amount, then you are required to stay in incarceration till the end of your trial. We are providing you special discounts and even our bail bonds agents sit with you to structure the bail bond payment structure.
- Pay your band in instalments
If you choose to pay your bail on your own, you have to pay the full amount. This means liquidating your assets if you don’t have enough cash or savings. You can prevent this by contacting the Justice bail Bond. You have to not only pay the 10% of your bail but you will be able to get all our services in addition you get to choose your payment plan.
- Professional and licensed bail agent services
Justice Bail Bonds assign you a professional and helpful bail agent. They will assist you throughout the entire process and you will know exactly what is going on.
- Any Jail Any Court
We are licensed to provide bail bond services for riverside and the entire state of California. Our experienced bail agents will address all your queries.
- 24/7 bail services
For your convenience, we are providing 24/7 services so you can contact us any time at (951)445-4155
Sitting in incarceration worrying about how to get out of the incarceration is an enormous waste of time, being assaulted, mental torture and may be possible to contract with many diseases. So banging your head against the wall is not the solution especially you are facing financial crises. Call Justice Bail Bonds at (951)445-4155 to discuss many ways to get out of incarceration in a shorter time.