Property bail bonds in California can be a tricky and frustrating process. The bail bond system is set up to ensure that those who commit crimes can come back into society with as little disruption as possible. Unfortunately, this means that the process of setting up bail for your loved one can be long and drawn out, leaving you frustrated and worried about their fate while they wait in jail.
Luckily, many local bail agents in California specialize in helping people get through this tough time by providing affordable property bail bonds to get them released from jail! A property bond might seem to be your best choice because it can reduce the amount of time you’ll need to sit in jail, allowing you to get back to living your life. However, is it all it’s cracked up to be? In this article, we will go over all the ins and outs of posting a property bond and if it’s the right choice when your loved one is in jail.
What Is A Property Bail Bond?
A property bond or a real estate bond is when you put up your own home as collateral for releasing someone who has been arrested. The collateral is based on the equity you have on your home which depends on the current market. A bail bondsman will require some paperwork and deeds in order to ensure that you are putting up your own property and it is not in someone else’s name.
It’s also common practice for these agents to require an appraisal on the property, which can take additional time, to ensure that it is worth the value of the bond. This can take anywhere from a few hours to a few days, especially with the delay all systems are feeling due to the current market.
How Do Property Bail Bonds Work in California?
In California, the bail bond amount is set by law to be ten percent of your loved one’s full bail. When you post a property bond with an agent, they typically require that you give them deeds to all of your properties as collateral for the release and will also need an appraisal on each piece of real estate in order to ensure they are worth at least this much. Once the bond has been created, you will need to pay a fee of ten percent (in California) as collateral for the bondsman.
If your loved one does not show up in court, then this money or in this case the property is forfeited to pay the courts. If the person given bail does not come back into court when required (usually within 180 days), then whichever agency holds their paperwork can take ownership over all of these pieces of property! This means that if someone isn’t able or willing to stay out until trial, you could lose your home.
What Is Required For A Property Bail Bond?
In order to get a property bail bond in California, you need to have equity in your real estate. Equity is defined as the current market value of your home minus any liens or mortgages against it. If there isn’t enough equity built up on the properties included, this could be an issue because you might need to put down more cash for the bail bond agency to be comfortable with taking on the risk.
All property bonds will require a deed and some paperwork proving that you own your home or other properties. An attorney usually handles this, so they must be able to complete all of these tasks for you, which may take some time. Property bail bonds can also be very expensive due to the fact that there’s no set price since each one varies depending on how much equity is built up in the said property.
State law also requires the current real estate value, which you can get appraised through Zillow, a local real estate agent, or the County Tax Assessor. Finally, you will also need to present tax records on all your properties to prove you are up to date on your taxes.
Property bonds are not available if:
- The deeds are not in your name for the property you want to put down for the bond
- The defendant has been arrested before and failed to appear.
- The suspect was charged with violent felonies within five years prior (such as murder).
If you do meet these requirements, though, posting a property bail bond may not be a reality.
What Are The Benefits of A Property Bail Bond?
The most significant benefit of a property bail bond is that it allows the defendant to get out of jail if you don’t have cash on hand! Someone who posts with their property will be released within 24 hours as long as all paperwork has been submitted and approved. However, this may not be a reality because of all the moving pieces required to get approved for a property bail bond, especially during COVID with so many delays and postponements.
Even if someone is not able to get out of jail overnight, they will be able to leave once all paperwork has been approved and bail has been posted! This gives them a chance to prepare for their case while getting back into life and working like normal until it’s time for court again. Property bonds will help to get your loved one or yourself out of a sticky situation. However, it does rival the same problems that most find with cash bonds. When people don’t come back in time or at all, you could lose the property you put down for the bond, which can hurt you financially.
What Are The Disadvantages Of A Property Bail Bond?
Property bail bonds aren’t without disadvantages because this method does require putting down deeds on homes or other properties that could pose a financial risk if the person running doesn’t come back to court. This means that even though your loved one will be able to leave jail, you could lose all equity on your home or other properties until they make their appearance.
Property Bonds in California if not using a bail bonds company require:
- Title Company to insure title of property.
- Appraisal with particular type of error and omissions insurance.
- Signed and notarized deed of trust for property filed with the Court.
- Property tax clearance from County Tax Recorder.
- Bond approval from the judge in the county where the defendant is located.
- Minimum 200% equity in real estate. Twice the amount of the bail.
This also makes property bail bonds more expensive than cash bonds since there isn’t a set price for how much is needed, and the agency takes on more liability by accepting it as collateral. For example, someone with $20,000 in equity may only need $15,000 posted. In contrast, others with less marketable homes might require anywhere between 20-50% of the total value, so the agents are comfortable enough to take this type of responsibility! Even then, they can raise these amounts at any time, depending on what’s going on with the case and the specific circumstances associated with the defendant.
What If I Own More Than One Property?
Suppose you own more than one piece of real estate that could be used as collateral for this type of bond. In that case, each will require separate paperwork and documentation even though they may share similar equity amounts – so make sure you take all these factors into account when making your decision about whether posting with property bonds is right for you.
How Can I Get A Property Bond In California?
The first step to getting someone released with a property bond is to find an agent in your area. Once you have chosen one that works best for you and your loved one’s case (and explained the situation), they will begin working on the paperwork needed to get them out as soon as possible. Not all California bail companies work with real estate properties, though, so make sure to inquire if this is an option during the initial consultation or conversation.
In order to get a property bond in California, you will need to provide the bail agency with tax records from the last three years, deeds for all of your properties, and an estimate of their value.
Is There a Difference Between Federal and State Court Laws For Bonds?
Yes, there is a big difference between federal and state laws when it comes to bail bonds. In general, California does not allow people to post property as collateral for others’ release, but they do have certain exceptions depending on their situation.
In the case of someone who has been arrested by federal authorities or any law enforcement outside of California, then posting with real estate deeds becomes legal without having specific exemption within the criminal code. This also applies if someone posts in another state where this type of bond is allowed since these rules take precedence over local jurisdictions.
Is There a Difference Between Federal and State Equity Laws?
There are a few similarities between State and Federal court laws for bonds in California. However, the most significant similarity is that in both, you can use multiple pieces of Real Estate located anywhere within the country, not just in your County or the State itself.
The biggest differences are how much equity is required to receive the bond. For example, a federal court will require a dollar-for-dollar match in equity, while a state court requires double the equity.
Federal Ex: $25k bond requires $25k real estate equity.
State Ex: $25k bond requires $50k real estate equity.
How Do I Find an Appraiser for a Property Bond?
Visit www.asc.gov to find an appraisal company in your area. You can also contact a real estate agent or local bank to see if they have any options for you.
Putting Up House as Collateral For Bail Bonds
If you own a home, then odds are it has some equity value. When making this decision between opting for property bail bonds or other types of bonds in California, make sure that the terms will fit within your budget and timeline. This may require hiring an attorney to review all documentation before agreeing on anything since mistakes could lead to even more legal fees down the road!
If someone needs a property bond but does not have equity built upon their real estate properties, then you might also consider using family homes instead. You can get more information about this process by speaking with the agent managing your case directly. They will be able to let you know right away if it is possible based on your situation so that they can begin working towards getting them out quickly.
Property bail bonds are a good option for someone who has equity in their home. However, it may not be for everyone, since an important asset is at stake. If you’re not sure if your property qualifies, it is best to speak to an agent and check out your options.
How Can I Get Out of Jail Faster?
You may be able to get out of jail faster by posting property as collateral when you go through the process of requesting release in California. The terms will vary depending on who provides them, so you should speak directly with an agent about what works within your personal budget and timeline. However, you have other options to get out of jail such as putting down other forms of collateral or a bail bond with no collateral at all.
Who Can Post Property Bond?
When an individual posts property as collateral for bail, they need to have at least 50% equity in the value of their real estate properties. This is one of the most popular bond types because it also provides someone with some flexibility when trying to get out quickly. In addition, the agent will be able to provide a list of all qualifying properties based on their current market value so that you can begin the process immediately. Again, it can take anywhere from a few hours to a few weeks to finish the entire process depending on your location and charge.
How Much Do I Have To Put Up?
The amount of money you must put up for a property bond will vary based on the current market value. Collateral for a property bond does not have to be the entire amount of what you are trying to get out. Property bonds are typically less expensive than paying in cash because there is no interest rate attached to them. They can also help people avoid jail time while still ensuring that they return when required.
If someone does not have any equity in their home or other real estate properties, then it might be time to consider a different type of bail bond. Checking out other options can provide a way for people to begin getting back into their own lives as soon as possible without having to spend days behind bars waiting for everything to be sorted out with property bail bonds and paperwork.
Can I Post Bail Myself Using My House as Collateral?
Unfortunately, you cannot post your own bail using your home as collateral. This is because you are considered the party in interest. This means that your whole case will be treated as a financial transaction and therefore must go through an agent instead of directly between yourself and the court, as you can not handle your own case.
If someone else wants to use their property bond on you, though, then they can do so. If this isn’t possible for them either, another option is to get cash or commercial bondsman involved. They have more options available than just real estate properties, too, so they may be able to find one that works best for all parties involved! In the end, it might be cheaper to put up collateral with a bail bonds company at a discounted rate of 7% of the bail amount.
Benefits of Using A Bail Bonds Company
Using a bail bonds company to have your bail posted in California has many benefits. They have experience as well as connections within the court system, so they can help you move quickly from start to finish, avoiding any unnecessary delays.
In addition, using an agent means that you’ll find the best deal for your bail bond, which keeps people out of jail and helps avoid dealing with losing all of your cash paying to get out of jail. This also ensures everyone’s rights are protected along with their privacy since all transactions go through the agency instead of directly between individuals like it would if someone posted themselves.
Bail Bonds Can Be A Great Way To Get Someone Out Of Jail Quickly
Bail agents know precisely what needs to be done in each case of whether they’re doing federal or State bonds. Depending on where they are in California determines what rules apply to them specifically, which is why it’s so crucial for people to use an expert no matter the situation!
When you’re ready to get out of jail and want to know your options, then take a look at our website for more information! Future Bail Bonds is ready to help you with any questions you may have. We are committed to sharing our knowledge in order to help your loved ones get out of jail quickly and back on their feet.
Get a quote today and see what your best options are for a bail bond.