In a typical scenario, a bail bond in Oklahoma City is borrowed from a bail bondsman at the cost of the bond. An individual pays the bondsman $500 for a bail bond posted at $500. Whether the money is returned or not is considered at a later date, but it is usually a cost to a state that is kept by the bailing company who paid the post. Fees are a separate consideration.
It is a straightforward arrangement, and as the bondsman receives payment for the bond, they are basically providing the bond to the state for the release. It is a non-negotiable term because it is mandated by the state. So, what happens if the individual has no cash payment available? They can pay it in a different way, such as through physical property or an asset of some kind.
Payment Through Title
Typically, there are two main methods to make a bail bond in Oklahoma City payment outside of cash. Individuals will turn to their car or their house. In either scenario, the bonds professional will not actually keep the car in their lot or occupy the home. They would, however, hold the title for the house or vehicle, with an agreement of return at a later date. There may also be no return issued, but this all depends on the valuation, the bond cost, and other factors.
Overvalued
Of course, a car could be valued at $2,000 with a bail bond in Oklahoma City at $500. There is clearly a major difference here, and that is not just lost. In this situation, a bondsman receives the amount for the bond from the valuation and the rest is “returned”. Now, returning three-fourths of a car makes no sense, so the matter may be settled in one of two ways. The first is the acquisition of the car by the bail company, who then sells it and sends back the remaining funds settled in an agreed-upon contract.
The second method is for the bond company to hold the title. They can then pay for the return of the title by posting the amount of the bond. Contact us for details on how this would work. It is not always an accepted situation, but it could apply in the right circumstances.
