When your dear one or you land up in legal trouble, the obvious remedy is to search for a bail. If you or the other person qualifies for a bail bond, you or your family should get in touch with a bail bondsman.
Bail bonds allow your family to free you from prison as you wait to show up for the court hearing. It’s an excellent solution because it enables the defendants to stay with their family as they fight for the case in court, with the help of a lawyer. Additionally, it provides adequate time for the defendant to manage his or her legal case if they are not confident about it. The bail bonds aren’t accessible in every situation. However, it’s a choice that most people opt-in for. To know more about this, you can check out Castle bail bonds Hamilton county Ohio.
Usually, the law makes it evident that the bail amount shouldn’t be costly! However, at times the amount is too much for the defendant’s family. And this where collateral comes into use. Have you thought about the goods or belongings that can get used as a bail bond collateral? If yes, you can refer to the following list:
1. Bonds and stocks
It is one of the commonly used bail bond collaterals. If the guaranteed investment value is more than the penal amount, then one can use their bonds and stocks as a bail bond collateral. For this, you have to sign a legal stock ownership document.
2. Real estate
When it comes to real estate, you can use a building, your apartment, or a land as collateral. Either you or your family member needs to own this real estate property. You need to know that real estate properties that are bank-owned aren’t acceptable. The real estate property should be something that you or your family member own exclusively to get considered as collateral.
You can consider the car titles or recreational vehicles, for instance, motorcycles, boats, campers, trailers, and many more. Similar to real estate, even you need to own the car to yourself completely. No vehicle for which you are paying an EMI is applicable.
The standard valuables that get used as a bail bond collateral are precious jewelry, mostly gold and silver. The bail bondsman should certify that all these valuables’ present market value should be equal to the bail amount. Also, if the defendant doesn’t come to the court hearing, the valuables get confiscated.
5. Electronic devices
The electronic devices that usually gets used as a bail bond collateral include a laptop, television sets, and other items that have a value and matches with the bail bond amount.
The practice of placing collateral is urging the defendant to take the bail bond process seriously. It ensures that the defendant will be part of the court hearing and other legal processes and will prove himself innocent following the statutory regulations.