Replevin is a type of lawsuit in which an individual (a plaintiff) can retrieve articles of personal property that were wrongfully taken or detained by a defendant.
Unlike other forms of legal recovery, Replevin seeks the return of the actual article of personal property in question, not comprable money damages.
Replevin is also called Claim and Delivery, or sometimes Revendication.
There are many different types of court bonds, all serving different purposes. Understanding the differences in court bonds can ensure you are getting the right court bond for your specific needs.
A Cost Bond is a type of surety bond that guarantees payment of court expenses. Usually Cost Bonds are required by plaintiffs who file action within a state that they do not live in, though some states may require a cost bond for state residents as well.
How much does a Conservatorship Bond cost? Conservatorship can be costly because there are fees that are incurred before conservatorship is actually established by the court, and also ongoing fees that continue during conservatorship.
Want more information? View our FREE “Everything You Need To Know About Conservatorship Bonds.”
What is underwriting in insurance? Underwriting in insurance is risk evaluation. Insurance underwriters work to determine the risk of potential clients. In the surety bond industry, it is no different.
Surety bond underwriters evaluate the risk of approving clients for surety bonds. When it comes to court bonds, the underwriting principles involve the individual case, the applicant applying for the bond, the risk factors involved, and any collateral and indemnity.
If you need a refresher on what a court bond is, check out our Court Bond Guide.
What is probate? Probate is the legal process that governs how a deceased person’s assets are distributed upon their death. One way to think about the probate process is that it acts as ‘the script’ for how things go after someone passes away.
If you have ever been in court, then you know that private matters can often come under scrutiny. While under oath, you can’t avoid the topic. Because lawmakers know this, court bonds are often required to ensure protection against possible loss as a result of court proceedings. There are multiple types of court bonds, and each serves a different purpose.
Just looking for a quote? Get free Court Bond quotes here.
When a creditor sues a debtor to secure possession of a property they believe they have legal right to, often times an Attachment Bond or Replevin Bond is required by the creditor. A bond is required to ensure that the debtor will receive back their property if the court finds in favor of the debtor, or if the property should not have been seized.
Though Attachment Bonds and Replevin Bonds are the most common, there is another type of bond that can come into play in scenarios involving the seizure of a property: Sequestration Bonds.
A creditor is an individual who is owed money. There are different types of creditors. Petitioning creditors are parties who are owed money from a debtor and who apply to the court of bankruptcy in order to secure a debtor’s property and distribute it equally among them all.
Under certain circumstances, petitioning creditors can force a debtor into bankruptcy without his/her consent. This is called an involuntary bankruptcy petition. When an involuntary bankruptcy petition is filed, a receiver or trustee is appointed to take charge of the debtor’s property until the case is judged. Receivers and trustees who are appointed to do this often must furnish a Petitioning Creditor’s Bond.
Garnishment is the legal process that allows creditors to take money or property of a debtor to pay for a judgement. The most commonly garnished property is future wages and bank accounts. In garnishment, if there is a 3rd party that holds the debtor’s property they are referred to as the garnishee. For example, in a wage garnishment, the debtor’s employer would be the garnishee and in a bank account garnishment, the bank would be the garnishee.
Sometimes, before a final judgement is made in a court trial, a plaintiff might want to secure the debtor’s money or property somehow and ensure that once the lawsuit is finalized they will be able to access the debtor’s property, even if held by a third party. A plaintiff ensures this by getting a Garnishment Bond.
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