Bondsmen sometimes require collateral when to reduce their financial risk and ensure you will show up for court proceedings. Collateral can be in the form of high-value assets. Real estate is one of the most common types since homes, land, or other properties are substantial guarantees due to their high market value and stability. The bondsman will usually assess the equity of the property you or a family member owns before accepting it if you or they own property.
Cars, boats, or motorcycles are also often accepted as collateral if the vehicle is owned outright, as are personal vehicles. For those bondsmen, high-value items like jewelry, collectibles, or high-value electronics may be considered if they meet the required value threshold. In addition, some bondsmen will accept investments in stocks, bonds, or certificates of deposit since these financial instruments can be liquidated.
Cash is also possible, and sometimes it reduces the collateral needed, but not all bondsmen require it exclusively. The primary purpose of collateral is to allay the bondsman’s fears that the funds will be recoverable if the bond is forfeited. That safeguard helps both parties feel secure through the bail process.