When a loved one is arrested, securing a bail bond can speed their release. However, while you might be certain your relative will attend all scheduled hearings, the agency will want to protect themselves in the event they don’t. They may ask for proof that you can cover the full bail amount. In some cases, this proof may entail putting your house up for collateral. Doing so would mean surrendering the home if your loved one skips bail, so you should confirm their commitment before taking the following steps. 

3 Steps for Using Real Estate as Collateral for a Bail Bond

1. Complete Essential Documents 

Before they can accept the arrangement, the bail bond company will need to see proof of ownership and property valuation. If they’re satisfied with the collateral you propose after reviewing these documents, a bondsman can help you complete a Declaration of Trust of Real Estate, which will name the agency as the beneficiary. This particular document will then have to be filed with the county’s property records office. 

2. Post Bail for Your Loved One      

By filing the deed, you’re allowing the agency to assume a lien on your home. This means they have the legal right to take possession of your home if your loved one skips bail. It also means that they will supply the bond needed to get your loved one released. Depending on the circumstances, the date, and the time of day, it may be possible to prepare and file all necessary paperwork in a matter of hours. 

3. Release the Property Lien

The agency’s lien on your home will remain active until the case has been resolved. Once the bail bond has been exonerated, you can request to remove the lien. To do so, you’ll need a certified copy of the bond exoneration order. It should then take the bond company no more than 30 days to provide you with reconveyance, which is proof that they released the lien. 

Having a close friend or family member arrested is difficult; all you want to do is help get them back home. DiAdamo-Tracey & Big Steve Bail Bonds are here to help you. Located in East Haven, CT, they have over 60 years of experience. They have a talented bail bond team that provides compassion, respect, and nonjudgmental assistance to their clients. They’ll work hard to make a difficult situation easier. Call them now at (203) 787-2245 or visit them online for more information on their services.