Receiving a release of lien in Florida is simple when working with a reputable surety bond company like Jurisco. A Florida surety bond expert will quickly help resolve a lien situation with their thorough understanding of state statute. By securing a release of lien Florida bond, the lien can be removed from the property or assets.
What is a lien?
A lien works as a hold on a property. The owner cannot sale the property or transfer ownership in any way. Liens are generally placed on property because of payment disputes. Florida child support cases may even result in liens.
A contractor who doesn’t pay a subcontractor may be another reason why a lien is placed on property. Even if the property owner has receipts of bill payments, the court will allow a lien until the matter is heard. One way that liens can be avoided is by having a contractor, and their subcontractors, sign a lien waiver.
Florida statute details lien causes and how they can be removed. The alleged debt can be contested in court, but until a ruling is made, the lien will stay on the property. To remove the lien, a release of lien Florida surety bond can be used.
Liens and Foreclosures
One reason to secure a release of lien Florida bond is to remove any limitations on the property. Liens may not only block the sale of a house, but they can add to the cost of foreclosure. When a foreclosed property is tangled up in liens, the fines go up, as does the stress level. This story about Florida condominium owners and liens is just one of the warning tales out there.
The release of lien Florida bond does not mean that the party is in fact owed money. Instead, it clears the property of a lien by standing in its place. The release of lien Florida surety bond takes the place of the lien, while giving the court time to hear the case. By having a release of lien bond, the property is once again in the clear.
Release of Lien Bond
Don’t let a lien cause problems. Remedy the situation with the help of a surety bond professional. Contact Jurisco today to learn more about release of lien Florida requirements.
Chances are the term “injunction” has been heard by most people either from film and TV or through news stories. Injunction Florida surety bonds are required bonds by the state before an injunction can be granted. Injunction surety bonds covers any damages that the defendant may incur.
Florida requires injunction bonds as a way to protect the defendant against wrongful action. Injunction Florida bonds may also be required to cover additional legal fees. Speaking to a surety bond expert at Jurisco can help clear up any questions or doubts concerning injunction Florida bonds.
Injunction Florida Examples
Injunctions can be used for a wide range of reasons. Plaintiffs may use an injunction to stop the sale of assets or possibly stop the publication of a book. Injunction cases are not uncommon in Florida. Jurisco helps clients throughout Florida with their injunction surety bond needs.
Filing an injunction does not mean that the court will approve the requested action. Take this recent story about the U.S. Cricket Association (USACA). The USACA wanted to block the Caribbean Premiere League (CPL) from playing six games in Florida, claiming they were not properly sanctioned games. To halt the games, they filed an emergency injunction. A judge did not rule in their favor, however, saying the USACA did not show sufficient proof for the need of an injunction.
Injunction Surety Bond Process
Jurisco works with clients to make the injunction surety bond process as easy as possible. Surety bond experts know the injunction Florida requirements which speeds up the process considerably. Being familiar with the injunction Florida bonding statutes, Jurisco often delivers same-day service.
The process starts with filling out a bond application. Online surety bond applications are available. Once Jurisco receives the application, a bonding expert works to secure the right bond with a low rate. Even clients with bad credit can receive a good surety bond rate from Jurisco.
Contact Jurisco to learn more about injunction Florida bonds, the application process, and ways to lower the cost. A surety bond expert is on-hand to deliver the best injunction Florida surety bond available.
Last week I read a great post from Jurisco friend, and appellate law expert Benjamin Shatz, regarding updated rules on posting collateral in an civil appeal action(Appeal Bond vs. Cash Deposit with the Court). Article. In Civil Cases when an appeal bond is statutorily required, or deemed necessary by the judge, the principle has two options: 1) to procure a surety bond or 2) deposit cash in the amount of the bond with the court. In what scenarios does it make sense to obtain a surety bond and when does it make sense to deposit money with the court?
In this article, the bond experts at Jurisco will provide you with information to help make your choice easier. (See Code Civil. Procedure., §§ 995.710 for more information regarding updated rules: Link) One reason to obtain a surety bond, such as an injunction bond, appeal bond or a probate bond, is that it frees up capital for the principle. A surety bond requires only an annual premium payment of one or two percent of the bond amount; whereas if a principal chooses to deposit cash with the court, the principle loses access to a substantial amount of capital. This is money that could be invested; and since bonds can remain active for several years, the ‘lost’ income derived from investment could reach significant level.
Furthermore, when cash is deposited, the courts collect the interest from their deposit accounts. The principals money is working; just not for them. In addition, if you intend to post cash with the court in lieu of a bond then it is important to find out the rates because they can often be higher than than the premium. In Florida, for instance, the fee for placing a deposit with the court is often higher than the premium for the respective surety bond. In California, on the other hand, there is no fee for depositing money with the court. A second important consideration if the difficulty involved in retrieving the money from the court. Surety Bond agencies, such as Jurisco, are built on customer service and they retain clients based on their ability to solve their clients diverse needs. Often this requires being flexible and finding creative solutions to problems. Superior courts, like many municipal and state institutions are not; and retrieving deposits can be a long and arduous process. And when it is possible to reach customer service professionals, rarely do they have the answers. There are too few of them and the range of problems is far too large for any one employee to have a detailed grasp of all the issues. When making a decision involving time and money it is important to have all the facts. If the appeal bond process seems confusing, please don’t hesitate to contact the bond professionals at Jurisco. Their expert team is available to answer all your questions.
Supersedeas bond in Florida, as those who have been reading the Jurisco surety bond blog regularly will know, is one of the most common type of surety bonds. We have discussed the supersedeas bond topic often, focusing on state requirements, bond cost, differing local mandates, and the general necessity of the court bond. This is one of our major topics to keep our clients informed of any and all changes to supersedeas bond legislation and responsibilities. Today we continue this trend by focusing on appeal bonds in Florida.
What does a supersedeas bond do in Florida?
A supersedeas bond in Florida is a type of defendants bond. When the defendant appeals the court’s judgment, most typically a money judgment, they will use a bond to satisfy their requirement to pay. While lawyers file appeals and set up new hearings, the supersedeas bond stays the judgment and proves to the court that the judgment will be honored without false delay.
Do all Florida courts require an appeal bond to be used?
Any defendants wishing to appeal a money judgment will be required to post an appeal bond or can post the same amount with the registry of the court. While both parties have a right to appeal, the judgment can only be stayed with an appeal bond. It shows the court the judgment will be paid in full and may even cover court cost and interest.
What is the amount of Supersedeas Bond in Florida?
The surety bond cost depends on the bond amount required by the Florida statute. Businesses find this to be a hindrance when the money judgments against them are in the million plus range. As the cost of the judgments increase the bond premium will decrease. At Jurisco the premium amount is one percent of the amount with collateral or two percent without collateral (if qualified). Contacting us today is the fastest way to find out how much the supersedeas bond amount will be.
Court bonds are used either by the defendant or plaintiff in a case. Plaintiff bonds usually involve starting an action and defendant bonds aim to stop the action. Today our blog focuses on types of bonds a defendant may wish to use in Florida.
A supersedeas bond is used after the Florida court has issued a judgment. When a judgment is not in the defendant’s favor he or she may wish to appeal the decision. Taking supersedeas action happens after a judgment but plans for the bond should begin before trial.
Once a judge in Miami issues her ruling it goes into effect immediately. This means a defendant is not going to have the necessary time to apply for a supersedeas bond, take it through the proper channels and stay the judgment. However, if an attorney is prepared, the supersedeas bond will be ready to use, allowing the defendant to stay the judgment while they appeal.
A lis pendens bond is used when a plaintiff is attempting to block the defendant from selling property. As foreclosure rates in Tallahassee, Tampa, Orlando and other Florida cities increases lis pendens bonds is a common court bond in the state.
When the plaintiff has reason to believe the sale of the property will hinder their right to collect a debt owed by the defendant they can legally prevent the sale of property. If the defendant thinks this is in error they can use a lis pendens, which requires a lis pendens bond, to allow them to sell the house or land and still protect the plaintiffs interest. A lis pendens must cover the full amount of the debt being sought along with any interest and court cost.
Transfer of lien
A transfer of lien bond is another common type of court bond in Florida. A transfer of lien bond substitutes the bond for the lien on the property thereby removing the lien restrictions. This type of surety bond covers all types of property but is most commonly used on automobiles or admiralty.
Jurisco makes it easy to fill out a transfer of lien application online. The cost for a transfer of lien bond is based on the bond amount, type of court cost and any interest the courts want the defendant to cover. A Jurisco surety bond expert can assist you in learning more about this type of Florida defendant bond and how much bonds typically cost.
Appeal bonds can be so costly for businesses, So florida lawmaker want to cap appeal bond amount. The cost of an appeal bond is a percentage of the amount of the bond, which is based on the money judgment. When tobacco companies face hundreds of millions of dollars in judgments, the cost for an appeal bond is going to increase. Some businesses make the convincing argument that the cost to appeal limits the ability to appeal a ruling.
Florida put a $50 million hard cap on appeal bonds, for companies with more than 400 employees, during the 2006 legislative session. State Senator Tom Harman is working on legislation to decrease this cap with new legislation. Harman says Senate Bill 1478 would make the following changes:
“Current law requires defendants to post 150% of a judgment to have an appeal heard. In an era of billion-dollar verdicts, businesses are forced to settle rather than go into bankruptcy fighting a judgment they believe is in error. SB 1478 would place a $25 million dollar cap on the amount a defendant must post in order to stay a judgment and appeal a verdict. For small businesses the requirement is limited to $1 million.”
Big tobacco companies have been lobbying for such changes even before they were hit with 9,000 lawsuits in 2009. And while lobbying may conjure up negative images of people with money getting their way, there is some validity to this concern. Over the past two decades, the amount of money judgment awarded against companies, both big and small, have increased substantially. If the process of appeal is limited because of bond cost, that issue should be discussed.
What do you think about placing a cap on appeal bonds? Leave a comment on the blog or email us to tell us your thoughts about appeal bonds in Florida.
Money Judgment Appeals are typical across the United States in a variety of circumstances. A plaintiff may seek damages in an automobile accident, loan repayment, or even medical bills. There are also suits where courts award plaintiffs large sums of money, often millions of dollars, for safety hazards, product mishaps, and defamation of character. No matter the reason for the judgment, the defendant is responsible for seeing the money is paid to the plaintiff even if they wish to appeal the decision.
States mandate supersedeas bonds for appellants to qualify for re-trial by a higher court. A supersedeas bond secures and suspends execution of the judgment already awarded. The party seeking an appeal to a money judgment must post collateral or a bond with the court. This surety bond, often referred to as an appeal bond, satisfies this requirement.
Surety Bond Definition
A supersedeas bond guarantees full payment of the judgment should the appealing party lose its appeal. While the defendant has the legal right to appeal any decision by the court, it does not override the duty to protect other parties involved in the case including those awarded a money judgments. The court has a responsibility to ensure the judgment will not be delayed with frivolous appeal attempts. This surety also covers court cost and interest as well.
New Jersey and Delaware are the only two states that do not require a supersedeas bond when a Money Judgment Appeals. All other states require a surety or full payment of the awarded amount while the appeal process plays out. In some instances, a state court can override the bonding stipulations if both parties come to an agreement preventing the necessity of bonding. Courts may also waive a supersedeas bond in cases involving child support and require payment regardless of appeal.
Every state uses certiorari, a mandate from a superior court calling up for review from an inferior court the certified records of a particular case. Using this process, courts will determine bond requirements such as cost. States like Florida, Georgia, Texas and California will include a percentage of the judgment amount, or statutory interest rate, when determining the bond amount. In California, for instance, the supersedeas bond amount must be 150% of the judgment amount, whereas in Florida, the amount may include two years of statutory interest for those fees.
Supersedeas Bond Advantages
A supersedeas bond may appear to be a hindrance in the appeal process; however, it actually benefits the appellant. Supersedeas, meaning to “take place of,” suspends the execution of the money judgment. Now the defendant doesn’t have to pay out of pocket and then later try to recover that sum should he/she win the appeal.
The seizure of defendant’s property is also stayed using this bond. Should the judgment call for the transfer of ownership of a house, vehicle, artwork, et cetera, the defendant would be allowed to maintain possession of the property.
Posting collateral is one way to replace a supersedeas bond, but this is not nearly as beneficial as using surety bonding. Here are a few benefits of using a bond rather than depositing collateral/cash with the court registry:
- On average, courts charge a sliding scale to hold the money. This is 2% in most cases. The premium for a collateralized bond is 1%.
- Filing a bond automatically stays the execution of the judgment. Without the bond you must file a separate motion to stay.
- Many states will require a smaller bond than if the money is placed with the court. For instance in CA if a corporate surety bond is used to secure the judgment the bond amount is 150% of the judgment. If collateral is placed with the court’s registry, it must be 200% of the judgment.
- Fortune 500 companies and large insurance companies can qualify for rate credits as well as acquire the bond without collateral.
Using a surety bond may be the best route to take depending on the situation. Discussing the matter with a professional at a surety bond company is a good way to determine if a supersedeas bond applies to your needs.
Defendants wishing to transfer a lien from title to a surety bond may do so with a transfer of lien bond in Florida. This court bond applies to most types of property including automobiles and real estate. A lien may be a roadblock between the sale of a house and a few more months on the market. In similar scenarios, it may be a good idea to use a transfer of lien bond, especially if the defendant feels the lien was unjust in the first place.
The lien may very well be called for, however, so the court still has a responsibility to the plaintiff. When a defendant wants to remove the lien before the court issues a ruling, the judge requires a surety bond to uphold the lien’s merit. Using a transfer of lien bond in Florida ensures the plaintiff in the case will not suffer a financial loss.
The surety bond also covers court cost and fees. In Florida, the court cost is calculated by multiplying the lien amount by the legal rate of interest for a three-year period plus 25% or $1,000.00, whichever is greater. There may also be an approval fee from the appropriate Deputy Clerk.
A member of the Jurisco team can explain the surety bond requirements and cost in further detail. You can get the process started right now by visiting our application page. Our lawyer trained, court bond experts will help you with all your transfer of lien bond needs.
Paving roads, building schools, designing a new baseball field, and handling graphic design for city council websites all fall under the umbrella of government projects. Before local, state and federal government entities start a project, they must accept bids for the services they need provided. In the event a bidder feels the bidding process did not adhere to rules and regulations, they may protest the bid.
Bids can be protested for any number of reasons, including the lowest bid not being accepted. The reason for protest may be well founded and justified, but if the agency requires a bid protest bond and your protest does not meet that mandate, the protest will not be heard. A bid protest bond ensures the protest is founded and not a tactic to delay work. Not every state requires a bid protest bond; however, several do including Florida Bid Protest Bond require.
The bid protest requirements vary by state and by agency. Typically, the surety bond is filed directly with the government agency in question rather than through the court system. Before placing a bid on a project, it is good to review the agency’s protest policy. In Florida, bid challenges are under a 72-hour deadline after the agency publishes the bid winner. Jurisco can approve and write a bid protest bond in that deadline, but it is important to plan ahead.
Businesses and individuals who bid on government projects may want to talk to a surety bond expert at Jurisco about their options if a bid isn’t accepted. If you are bidding on a project in a state other than Florida, Jurisco is a nationwide surety bond provider so we can help in every state. Our bonding professionals have years of experience working with bid protest bonds and are here to offer you their assistance.
Garnishment Bond in Florida are required by courts before a person’s wages, assets, or bank accounts are garnished to cover a past debt. This action may be from a proprietor attempting to collect past debt or from a judgment holder perfecting their judgment. Garnishing a person’s wages is a serious transaction and Florida courts do not take it lightly. A surety bond protecting the defendant from wrongful garnishments is required before the first cent is withdrawn.
A Garnishment Bond in Florida is only required if the plaintiff seeks to garnish the defendants accounts pre-judgment. Many times the plaintiff will attempt to garnish the defendants account before a judgment is made because there is concern that they will dispose of or conceal assets if notice is given. The bond amount must be for double the amount that the plaintiff seeks to garnish. The addition amount that the bond provides is to cover court costs, legal fees and interest. Garnishing wages is sometimes the only option left available for the plaintiff to recover their money. While the courts recognize the contractual obligation of payment, the surety bond protects the defendant in the event the contractual obligation was already met and the garnishments were unnecessary.
Garnishment bonds cost fluctuates depending on the Florida court presiding over the case and the total amount of money owed. To discuss the surety bond cost in detail, a Jurisco bond expert is available via email or by phone.