When a defendant is accused of a crime, they must get bail. They could use the search term “bail bonds Cornelius, NC near me” to find a reliable bail bond provider. Bail bonds are a type of secured loan that the court will use to secure the defendant’s release. These bonds can be secured by a defendant’s car, home, or other possessions. If the defendant runs away or misses a court date, the court can take possession of these things. There are three different types of bail bonds.

Cash Bail

When an accused is in jail, one of the most convenient and quickest ways to get out of jail is by paying cash bail. A cash bond is an easy way to guarantee that the accused will show up to court dates. The person who posts the bond forfeits the entire amount if the accused does not show up for the court date.

Another option is a personal bond. This type of bond is paid in cash and is a more affordable option for defendants who may not have a lot of cash. The money is returned to the defendant once the trial is over. The best thing about cash bail is that it does not require a long-term investment.

In most cases, a defendant will be released on their recognizance. This bond is used for minor crimes where the suspect does not pose a flight risk. Failure to appear in court could result in further legal troubles or jail time.

Exoneration Bond

An exoneration bond is a type of bail that will release a defendant from custody after a judge clears them of the charges. After the judge clears the defendant of the charges, the defendant is released from custody and must return any collateral to the bail agent within 45 days. The defendant must also appear in court on the date set by the judge.

If a person skips bail, the money paid to bail bond companies will never be returned. The money will go to the bail bonds company, which retains the premium. In some cases, a bail bond company will set up a payment plan for the premium. It is important to note that the fees charged are a percentage of the total bail amount.

An exoneration bond is another type of bail bond. This bond is usually granted after the defendant has completed the case. The exoneration process can be expedited if the charges are dropped or settled. In some cases, the defendant’s lawyer can speak up on behalf of the exoneration to ensure that the defendant is exonerated.

Property Bond

A property bond is a type of bail bond that requires the arrestee to use their property to secure bail. The property must have enough equity to satisfy the bail amount, and the owner must agree to use it as collateral. The court will put a lien on the property worth the bail amount.

This bail bond is usually issued by a bail agent, who will assess the property’s value. While real estate is the most common collateral for a property bond, other property types are also acceptable. However, property bonds can be more time-consuming to obtain than surety bonds. They may require several weeks to be approved.

A bail bond is a legal document that promises the defendant will appear in court when called upon. If the defendant fails to appear on the scheduled court date, the money will be forfeited to the court. However, it can be used to cover court fees.