Anything that has sufficient resale value to help cover the amount of the bond(s). This includes tools, electronics, jewelry, vehicles (auto & recreational, real estate and of course cash.
Most times if real estate is used, it will either have to have a clear title, or there needs to be sufficient equity to cover any related bonds.
In Texas a person’s primary residence can’t be used as collateral. Texas has homestead laws that only allow a person’s primary place of residence to be used as collateral for mortgages and taxes. If you are looking to use property as collateral, it will need to be a property that you are not living in, such as a rental property you own, or a vacant piece of land.
Also, you’ll want to be careful about using collateral to guarantee bonds. You’ll need to fully understand that if the defendant does not go to court, you will most likely lose the property unless you can come up with the required cash to cover the amount of bail and any court costs and forfeiture fees.
Call Southern Bail Bonds today at (214) 385-4746! We can help you get the answers you need.
