Once a money judgement has been made against a defendant there are three possible moves to make: 1) accept the ruling and pay the judgement, 2) appeal the ruling and pay the judgement, or 3) appeal the ruling and stay the judgement using a Stay Bond until the appeal process is finished.
Staying the judgement means that the amount owed does not have to be paid until the appeal process is exhausted. It gives the defendant a chance to appeal the decision without having to pay money that he or she feels is unwarranted.
Why Does Nevada Allow The Defendant To Appeal?
Now any court in the state of Nevada will let a defendant appeal a money judgement. Court decisions can be overturned by higher courts once new evidence or witnesses come to light. However, the defendant must prove that the appeal is simply not a stall tactic and that they have every intention of following through with the court’s recommendations. To show the Nevada court good faith a defendant must take out a surety bond.
What Is A Stay (Pending Appeal) Bond?
A stay bond is a type of surety bond that is used when a money judgment has been ruled in favor of the plaintiff. In order for the defendant to stay the judgment while they make an appeal they must have a stay (pending appeal) bond. This surety bond guarantees that the judgement will be respected and paid in full should the appeal not work.
What Is The Cost Of A Stay Bond?
The overall cost for a stay bond will depend on the amount of the original judgement, any court fees, and any applicable interest and damage between the time of judgment and the appeal. While the court wants to respect the plaintiff’s judgment, they do not want to take away the chance for a defendant to appeal because of having to pay the judgement up front.
Having the pending appeal bond (another name for a stay bond) in place will make the appealing process easier. This frees up funds to concentrate on taking the appeal to the next level. If a defendant had to pay the judgement and then new court cost it might decrease the chance of the appeal which is why the Nevada court has this stay bond option.
The team at Jurisco can help you and your client understand which stay bond options are open and best for you. The faster a stay bond is placed with the courts the sooner the judgement is stayed and the defendant can move on.
To collect on a debt a debtor’s wages can be garnished in the state of California. This can happen in a range of cases including past due utility bills to civil suits over broken contracts. It is common for landlords to garnish a tenant’s accounts to collect back rent. The courts are accepting of the action, but they want to ensure it is done the right way. When a plaintiff seeks to garnish the wages or accounts of a defendant they must show the California Court that the action is done in good faith. Requiring a garnishment bond serves as protection for the defendant’s wages and the plaintiff’s actions.
Why Is A Garnishment Bond Required?
Without having a garnishment bond or other type of surety bond in place, the defendant could suffer an unjust financial loss. While the courts are understanding that the plaintiff’s deserve the money they are owed, they are hesitant to simply let the plaintiff walk out of the room with it. By asking for a surety bond, the plaintiff will have full protection should the garnishment later be found unlawful or unnecessary.
How Much Does This Surety Bond Cost?
The cost of a surety bond such as a garnishment bond is going to vary in the state of California. Local policies must be adhered to and the overall amount of the money in question will play a role. Our team at Jurisco can help review the facts and determine who much a garnishment bond will cost in the state of California so the defendant can move on with their garnishment action.
Does the Defendant Have Any Recourse?
The defendant does have a chance to appeal the wage garnishment to a state court. He or she may argue that payment arrangements have already been planned and started, or alternatively show how the garnishments aren’t necessary in the first place because there is no outstanding money due.
These types of actions come early on during the trial process. The judge may allow the plaintiff to garnish wages from the defendant during the early process, but when a judgment is made that plaintiff may have to pay back whatever was garnished if the ruling goes in the defendant’s favor.
Whether it is losing thousands to stocks or watching property investments turn sour losing money is a bitter pill to swallow. Everyone understands the market to be volatile, but when human error comes in to play it can be harder to bear.
There are countless stories of people being cheated out of their retirement fund or 401k because of the mishandling of accounts. To protect the public and to discourage poor practice the state statute will require a sales finance bond to show compliance with state regulations for a licensed broker.
Before a person can obtain their licensed broker license they must first post a surety bond. The sales finance bond financially covers the actions of the seller while protecting those who also enter into business with the seller. This helps the broker should they be accused of misconduct and helps the buyer who believes they have been wronged.
A sales of finance bond is a court accepted guarantee for the licensed broker’s work. Brokers who work with a firm may have this bond handled through their employer.
Regardless of if a broker works for themselves or for a firm the requirement stands. There is no way to waiver the state’s requirement for a licensed broker to have a sales finance bond.
Each state has established their guidelines for a licensed broker with the hopes of curbing illegal and financially harmful actions. This is why licensing exist in the first place, to help out weed out and track bad apples.
Anyone considering using a licensed broker should always check that this measure is in place and that they have met all their state’s expectations. People who want to work as a licensed broker must expect that the state takes their position very seriously and will not accept an excuse as to why the sales finance bond is not in place before their first day.
One of the aims of the court in Oregon is to protect the vulnerable. When the situation arises that a minor needs to be looked after the court will step in to ensure things are handled properly. If an estate is involved they may go as far as to require a curator bond to protect the interest of the minor against any mishandling.
Why Does Oregon Require A Curator Bond?
The state of Oregon requires a curator bond to guarantee the estate’s assets will not be stolen or wasted by the curator who is overseeing the estate. Without this bond in place, a minor or the heir to the estate would suffer a financial loss and burden should their trust be mishandled. In a proactive step a judge will ask that the bond be posted to show the court good faith that the curator will do his or her duty respectfully.
When a business or a person does not establish a curator bond they can be open to court action. Again, the court is simply trying to protect the interest of the estate, its heirs, and its creditors. While other types of surety bonds may be waived in the state it is rare for a bond protecting a minor, someone who cannot legally consent to such a move, to be waived.
How Much Does A Surety Bond Cost In Oregon?
The amount of the surety bond will vary from county to county in Oregon and will also be determined by the overall value of the estate. Court fees and expenses may also be tacked on to the cost. Any questions about surety cost can be directed by a member of the Jurisco lawyer-trained staff who have extensive knowledge about Oregon’s surety bond process.
Caring for the future of a minor is a big responsibility. Overseeing the estate which could be the minor’s fortune, or misfortune, should not be taken lightly. Watching over an estate so the heirs and debtors are not financially harmed is a great responsibility and the court will expect you to respect it.
In a temperamental real estate environment Washington court’s understand how fragile making a sale can be which is why they allow property liens to be handled with a surety bond. The transfer of lien bond in the state of Washington allows people to go through with a sale of the property while still respecting any liens that may be placed there on.
Why Are Liens Placed On A Property?
There are several reasons why a lien may be placed on a property. For example, the property owner could owe a contractor for work completed on the house. A recourse for the contractor to receive their money is to place a lien on the property until they are paid. This lien protects those owed money so when the property owner decides they need to sale the property the court wants to make sure those owed are not left out in the cold.
Bonds Protect People
By taking out a transfer of lien bond the debts owed will be covered. It also protects the party taking out the lien should the sell of property be deemed unlawful. The bottomline is that the court wants to protect all interested parties from a financial loss. If the property owner can sale the house, for instance, then they will be in a better position to pay off the debt which caused the lien in the first place. The court allows this opportunity as long as a surety bond covers all the moving pieces including court fees.
How Much Does A Transfer of Lien Bond Cost?
The cost of a transfer of lien bond is going to depend on several factors including property value, how much the lien is for, and any local ordinances. While the cost may fluctuate the protection never waivers. Having this type of surety bond protects a person or business from dealing with lawsuits concerning liens. It shows the court that the liens will be respected and that the transfer of lien is done in just faith and without malicious intent.
Jumping into the real estate workforce continues to be an appealing idea for people at various spots of their careers. Not only is becoming a mortgage broker out of college a good move it is also attractive when switching careers, as well. People who generally enter this line of work have a knack for working with people and numbers. They also tend to have a good head on their shoulders – something the state of California wants to make sure they use fully which is why they require a mortgage broker bond.
Why Is A Mortgage Broker Bond Required?
The state of California requires that mortgage brokers take out a surety bond to cover their practice should any situations arise such as mishandling a person’s bank loan transaction. This surety bond is to show the state that the mortgage broker will work in good faith and uphold all state statutes as they pertain to real estate.
Having this surety bond in place is a time saver for the courts in the event a money judgement needs to be handled right away. This bond protects the consumer against any faulty practice that may result in a financial loss. A mortgage broker bond is necessary for any person serving as a mortgage broker for a potential buyer.
How Much Does A Surety Bond Cost?
The cost of a surety bond is going to depend on state and local regulations. In the state of California a mortgage broker bond typically covers around $50,000. This may vary based on local ordinances and/or size of the mortgage broker firm.
People interested in obtaining their mortgage broker license must think ahead to obtaining a mortgage broker bond. Without this surety protection they will not be operating by state code and therefore could be subject to fine and punishment.
Need A Bond In A Hurry?
One of the great things about Jurisco is that we can help our clients quickly. With a fast turnaround time, Jurisco’s lawyer trained staff can set up a mortgage broker bond in the state of California without the hassle. Contact our office today to get started.
With another July 4th celebration in the books many people are reflecting on what makes a country’s freedom possible. For America, the service of men and women in the military has always been a staple. While the world continues to battle for peace it can be difficult to see an after picture. The picture of what happens to the men and women who serve their country when they return home. Unfortunately, some veterans will return to their loved ones needing serious support.
One of the main bonds dealing with members of the military is a custodian of veteran bond. This type of surety bond protects the veteran’s financial interest should he or she be incapable of handling their own affairs. This could happen, for instance, if they are hospitalized or have been severely injured in the line of battle. To protect those who protect us the court has established this surety bond to ensure the veteran does not undergo any unnecessary hardship.
The cost of a custodian of veteran bond will vary as will the terms of the bond. Courts in each state will require a surety bond for any member of the military who is incapacitated and who has invested money with the Department of Veterans Affair (VA). To have a soldier lose money because their finances were mishandled is something the courts take great strides to prevent.
While soldiers are serving their country it is up to the courts to serve them. Not only does the veteran deserve to have their money properly handled, but so do their spouses and heirs. By having a custodian of veteran bond the court is protecting the veteran’s financial sovereignty.
The guardian who is appointed the veteran’s case is held to a high standard. Any mishandling of the account will have to be answered for in a court of law. Without having a custodian of veteran bond, the family of the veteran and the veteran themselves have a harder time using a legal recourse. By having the protection of this surety bond a veteran and their family can rest a little easier knowing that their finances are being watched over carefully.
Our soldiers do so much for us that it only makes sense that we return the favor. Having a custodian of veteran bond is one step we can take to protect those who protect us. Make sure to have this surety bond in place so if something does happen financially the safety net is already there. Please contact Jurisco for more information.
Landlords who feel the only solution left is to evict a commercial renter must take the appropriate steps to protect themselves and the tenant before following through with the eviction. In most situations a court will require the plaintiff to secure a distress bond. By submitting this bond to the court the landlord is showing that they are not making the move in ill faith and that the tenant’s rights are still protected.
A distress bond is a type of surety bond required of commercial landlords who are seeking to remove a tenant. Whether it is due to non-payment or failing to comply with lease requirements the landlord has to prove that the eviction is being done legally. Courts require this bond to protect the defendant should the eviction be determined to be unjust.
With the economy continue to try and find stable ground more landlords are having to navigate the eviction waters. Removing someone from their place of business is not an easy process. Not only are landlords likely to deal with irate tenants in this scenario, they also have to deal with city ordinances and due process, as well. Having someone help steer the ship will make the process go smoothly.
By letting Jurisco assist you with the distress bond we can make sure everything is as it should be so there are no hiccups in the eviction proceeding. With the presence of a surety bond, landlords are able to show the court that they took every step possible to protect the tenant from any unwarranted situation.
Any landlord of commercial property knows there is a lot of red tape when it comes to renting and leasing. They also know that eviction is sometimes necessary. Without removing the tenant they are opening themselves up to serious financial burdens. When the time comes to evict be sure to have the distress bond in place to prove to the court that every step was taken to ensure the tenant had ample notice and opportunity to rectify the situation.
Any questions about distress bonds or any other surety bond can be handled by our expert team of bond writers at Jurisco. Let us help take the headache out of the eviction process.
A lis pendens bond is a type of surety bond required of a plaintiff that is attempting to block the sale of property. Some cases such as divorce often hinge around property. In the event the defendant is attempting to sale the property before the court proceedings finish the plaintiff can step in and demand a temporary halt of sale. Now this could jeopardize the entire sale so the courts in every state will require a lis pendens bond to cover any financial hardship that should befall the defendant.
A court will require this surety bond in most states because there is still a possibility the stop of sale will be deemed wrongful. While the court recognizes the concerns of the plaintiff, they must account for the risk the defendant takes as well. By posting this bond a plaintiff shows the court good faith that the action is not done wrongfully or without merit.
When a plaintiff uses a lis pendens bond they are able to stop the sale of property faster than if they wait for the final court decision. It can take weeks or months to determine property ownership but a bond can generally be granted in a few days. This is especially helpful in situations where the acquisition of property is learned about on the fly.
The bond amount will be set by the court after determining the value of the sale, the cost to the court, and weighing any risk to the defendant. Once the bond amount is set it will be quick to post a bond. Jurisco will be standing by to help through the process. Have additional questions about a lis pendens bond in your state? Don’t hesitate to call or email the surety bond experts at Jurisco to speak with a surety bond professional today.
Cases concerning property are likely to concern bonds as well. One plaintiff bond that is often required is a replevin bond which is called into play when the defendant is being asked to relinquish control of property (i.e. vehicle, art, a house). A judge requires this sequestration to cover any damages the defendant may incur should the seized property be deemed invalid. California cases are dealing with replevin bonds more and more as the economy continues to try and regain stability in a land of foreclosures and evictions.
When determining the necessity and cost of a replevin bond in California the courts will set an amount based on the value of the property, plus any additional court cost. For instance, a bond covering a brand new luxury vehicle won’t be as high as, say, taking over possession of a home. Bottomline, the court simply wants a safeguard in place so the defendant is not left high and dry. There are situations where property has been turned over to the plaintiff only to have it deemed later that the property was the defendant’s all along.
A plaintiff has the right to seek back property, however, which is why the replevin surety bond is important. It shows the court that the plaintiff would not be taking such measures if he or she did not fully believe that the possession of ownership should go to them. In situations of car repossessions, for example, it is usually in the best interest of the plaintiff to retrieve the car before the court proceedings begin. This prevents further loss of property and money for the one bringing the suit.
The court will fully weigh the risk of the plaintiff and defendant when granting the bond and recovering property action. Be sure to find out the estimated value of the property to allow the bond process to happen seamlessly and quickly. Letting a replevin bond work in your case’s favor will save a lot of legal headaches.