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.
Supersedeas
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.
Lis Pendens
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.