While we do not handle property bonds, we always get questions about them! We want this site to be a place where you can get as many bond questions answered as possible. So, in this post we are going to tell you as much as we know about the way a property bond works. This information is not meant to be all inclusive but rather an overview of the process and requirements of property bonds. For any further information or questions please contact your local magistrate office. This is also not legal advice. The post is simply meant to provide you information about the requirements and the process of property bonds.
Property Bond Requirements
One option to post bond for someone in Virginia is with a property bond. You can use real estate or personal property (such as a vehicle). The following is a list of requirements for the property to meet:
- 1st — The property must be located in Virginia. If you are using a vehicle, it must be titled in Virginia.
- 2nd — You must have a deed or title.
- You must have a documented value of any type of property you will be using.
- For property or a home you must have the most recent tax assessment.
- This would generally be issued by the town and/or county.
- A copy can be obtained from the Commissioner of Revenues office.
- For a vehicles you must take the vehicle to a certified appraiser (a larger car lot). They will provide a statement on letterhead that should be signed and dated by the appraiser.
- For property or a home you must have the most recent tax assessment.
- You must have a documented value of any type of property you will be using.
- 3rd — Once you have your documents you will go to magistrate office or jail (all parties listed as others must be present with photo id and your deed/title and the tax assessment or appraisal).
- 4th — The property can be used only up to the value for bonding.
- Example: If your property is worth $3000 you could only use it for a bond that is $3000 or less. The bond amount could not exceed the $3000.
- The property is collateral and therefore is required to cover the full bond amount.
Things to note about Property Bonds in Virginia
For a deed if there is a party listed as an owner but is deceased you must bring a death certificate.
If your name is different from what is on the deed or title you must provide a marriage certificate or legal document showing the name change.
A photo ID is a requirement that must be provided and for everyone who will be signing.
Appraisals or assessments must be current.
If on real estate you owe any back taxes, that amount will be deducted from the value, lowering the amount that can be used for the bond.
Any real estate with equity can be used even if you owe on it to a lender. However, only the equity can be used, the tax assessment and a payoff letter would need to be provided.
In the event the defendant does not show to their appointed court dates, the court can require you to SURRENDER whatever property was used or place a lien against said property with an allotted time to pay the full bond amount or seize said property.
Just like any bond once the case is completed for the charge/s the bond is over and closed, the property obligation is released.
You can use multiple properties to cover a bond. You can also at any time once property is used, go to the. courts and request to be removed from the bond which will revoke the defendant’s bond and they would be arrested and placed back in custody.
Other questions on the bonding process?
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Phone Number: 276-608-7208
Email: aadvantagebailbond@hotmail.com
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