What is a Texas Court Bond?
Learn about each and determine which one you need!
A Court Bond is not a single bond. It is, actually, an umbrella term for several types of bonds that serve different purposes during legal proceedings or to ensure that the people who are appointed to carry out legally binding acts will do so properly.
This is a type of surety bond that is required of a defendant or a plaintiff by a statute for court proceedings. It is an assurance that the individual will fulfill his obligations following a case. The coverage of the obligation can vary widely – from payment of damages to regaining a seized property. Below are the types of Judicial Bonds:
- Replevin Bond – Also known as Claim and Delivery Bond. It is a requirement for a replevin case to protect the defendant. This bond will assure the defendant that he will be compensated for losses caused by the seizure of the property in question by the plaintiff.
- Immigration Bond – A bond required by non-U.S. Citizens that have been detained/jailed by the Department of Homeland Security.
- Supersedeas Bond – A bond that will secure the appellee/respondent from any loss due to a stay of execution or a delay through the suspension of collection by the winning party until after an appeal is over.
- Appeal Bond – A required bond for the appellant by the Federal Rules of Appellate Procedure as an assurance that the appellee’s court costs will be paid in case the appeal was lost. Take note that not all court costs will be covered by this bond. The examples of the covered court costs are, but not limited to, the following:
- Notice of appeal filing fee
- Preparation of record
- Supersedeas bond premium
Fiduciary Bonds are a type of Court Bond used in probate courts. A Probate Court is a tribunal that deals with certain proceedings such as Trust Proceedings; Conservatorship of Adults and Assets Proceedings; and Guardianship of Minors and Assets Proceedings.
This type of bond is furnished to guarantee that the executor of the property and finances will perform his duties accordingly. Alternatively, they can be referred to as a Custodian Bond, Guardianship Bond, Ne Exeat Bond, or Executor Bond.
What is the bond amount?
This varies per bond and subject to the discretion of the court. The surety bond cost will depend on several factors as well. Along with the court bond amount, the surety bond company will need important requirements such as your financial history and credit score.
If you want to get prequalified for any of the court bonds, give us a call! We’re happy to help!