Sidney Powell has pled guilty in Georgia. She had posted $100,000 bail.
Do people with assets usually still pay a bondsman? Because their
assets are not liquid enough for the court? Many/most people with
decent jobs who are older than 40 have 100,000 equity in their house or condo. Will a court accept a lien on your house. I would think not.
Too much trouble if they have to execute? on it.
What if the house is fully paid for? Will they accept the deed,
which iiuc is much easier to collect on. Just sign it over, sell it, and return the difference minus costs. Maybe that is still too much trouble
for the court's staff.
Bondsmen charge about 10%, is that right?
Instead of paying a bondsman, can you pledge, to the court, stocks or
bonds, or do they only take money? If you can pledge stocks, bonds
etc. do you still get the interest or dividends they earn while the
asset is on deposit with the court? If so, and you don't violate your
bond and you get assets back, you've lost nothing.
But I have the feeling it's not that good.
micky wrote:
Sidney Powell has pled guilty in Georgia. She had posted
$100,000 bail. Do people with assets usually still pay a
bondsman? Because their assets are not liquid enough for the
court? Many/most people with decent jobs who are older than 40
have 100,000 equity in their house or condo. Will a court accept
a lien on your house. I would think not. Too much trouble if
they have to execute? on it.
What if the house is fully paid for? Will they accept the
deed,
which iiuc is much easier to collect on. Just sign it over, sell
it, and return the difference minus costs. Maybe that is still
too much trouble for the court's staff.
Bondsmen charge about 10%, is that right?
Instead of paying a bondsman, can you pledge, to the court,
stocks or bonds, or do they only take money? If you can pledge
stocks, bonds etc. do you still get the interest or dividends
they earn while the asset is on deposit with the court? If so,
and you don't violate your bond and you get assets back, you've
lost nothing.
But I have the feeling it's not that good.
The answer to your question depends on the court. Every court has
its own rules as to what it will accept as surety.
I'm pretty sure people have used houses or other real estate as
their "bond" for a criminal case. This is probably easier if you
own it free and clear. If you have an existing mortgage on the
house and stop making payments, the mortgageholder (usually a
bank) will foreclose. But the standard thing is for the first
holder to notify the second holder. Then the second holder
forecloses, and *then* the first holder forecloses.
This protects the interests of the second holder, but it's
complicated and the court may not want to get into that
complication.
On October 20, Stuart O. Bronstein wrote:
In my experience in California (and I don't practice criminal law but
have been around many people who do) when someone posts a non-cash
bond, it has to have double the value of the bond amount.
In the FTX case, it was $250 million.
Well heeled friends is one of the benefits of membership in the
Stanford law school faculty. Probably Facebook and Apple stock.
What's the point of differentiating between bond and cash bail?
--
Rich
In my experience in California (and I don't practice criminal law but
have been around many people who do) when someone posts a non-cash
bond, it has to have double the value of the bond amount.
On October 20, Stuart O. Bronstein wrote:
In my experience in California (and I don't practice criminal law but
have been around many people who do) when someone posts a non-cash
bond, it has to have double the value of the bond amount.
In the FTX case, it was $250 million.
Well heeled friends is one of the benefits of membership in the
Stanford law school faculty. Probably Facebook and Apple stock.
According to RichD <r_delaney2001@yahoo.com>:
On October 20, Stuart O. Bronstein wrote:
In my experience in California (and I don't practice criminal law but
have been around many people who do) when someone posts a non-cash
bond, it has to have double the value of the bond amount.
In the FTX case, it was $250 million.
Well heeled friends is one of the benefits of membership in the
Stanford law school faculty. Probably Facebook and Apple stock.
SBF's parents pledged their house which is probably worth $2 - $3
million, and two friends said they'd also be responsible, and the
judge figured that was close enough. There's no indication that any of
them had anything close to that much money.
It was evidently enough, since he showed up for his trial last week.
https://www.reuters.com/business/how-did-bankman-fried-secure-250-mln-bail-2022-12-22/
"John Levine" <johnl@taugh.com> wrote:
According to RichD <r_delaney2001@yahoo.com>:
On October 20, Stuart O. Bronstein wrote:
In my experience in California (and I don't practice criminal
law but have been around many people who do) when someone posts
a non-cash bond, it has to have double the value of the bond
amount.
In the FTX case, it was $250 million.
Well heeled friends is one of the benefits of membership in the
Stanford law school faculty. Probably Facebook and Apple stock.
SBF's parents pledged their house which is probably worth $2 - $3
million, and two friends said they'd also be responsible, and the
judge figured that was close enough. There's no indication that
any of them had anything close to that much money.
It was evidently enough, since he showed up for his trial last
week.
https://www.reuters.com/business/how-did-bankman-fried-secure-250-m >>ln-bail-2022-12-22/
So back to my original question, if he continues to show up,
whether he's acquitted, or convicted and sentenced to prison, his
bond will be returned/cancelled, whatever the word is, and since
they got to live in their home this whole time, it won't actually
cost them any money or any indirect financial loss, isn't that
right? It's not like the house now has a criminal record and it
can't find a lot to sit on.
I understand that different jurisdictions have different rules but
if this one takes houses, some might even take stocks and bonds.
They are a lot more liquid than even fully paid-off houses. And
for them too if the bail conditions are always met and nothing his
forfeited, then whoever posts the bail doesn't lose interest or
dividends, doesn't lose anything, except maybe some sleepless
nights if he's posting the bond for someone else.
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