Arrests happen every day, and it’s always scary. Getting someone out of jail fast can help them keep their job, continue attending classes, pay bills, etc. The easiest way to do that is with a bail bond. However, some people are unable to immediately pay to get their friend or loved one out of jail. In some cases, collateral can be helpful.
When Do You Need Collateral?
Collateral usually comes into play when a person doesn’t have enough (or access to) cash to bail someone out. There are a few different items that can be used as bail bond collateral: real estate, stocks, and vehicles.
Real Estate as Bail Bond Collateral
Real estate property is used as collateral in a lot of different types of business dealings. Real estate tends to both be valuable and hold its value well. Depending on the cost of the bail bond, even a small piece of property can be more than enough.
For those who are still paying a mortgage, you can use the equity you’ve already accrued as bail bond collateral.
Don’t own any property? No problem! Vehicles can sometimes be used as collateral as well. Any type of vehicle, such as a tractor, motor home, car, truck, motorcycle, etc. may be perfect for collateral. To be eligible, you must have the title or any of these:
- The bill of sale from the auction house or dealer
- A registration document with the former owner’s name and signature
- Court documents detailing the transfer of ownership
- A statutory declaration that the vehicle was homemade and unregistered
Basically, you need to be able to prove that you actually own the vehicle before you can use it as collateral.
If you have money invested in stocks, they can be used as collateral for a bail bond. In order for stocks to be accepted as collateral, your total investment must be greater than the cost of the bail bond.
Fast Santa Clarita Bail Bonds Any Time
At Santa Clarita Bail Bonds, we understand how stressful situations like this can be. We’re available 24/7 to answer any and all of your questions. If you want to get the bail bond process started right away, we can help you there too.