An attachment bond is a type of surety bond that courts generally require when dealing with a writ of attachment. It’s often the case that a party or person will be required to obtain one of these bonds in order for the writ to be accepted by the court. Timing is often crucial in these cases, and understanding what the bond does and how to get one can make or break a case.
The Protection Provided By Attachment Bonds
A writ of attachment is generally used when a party needs to freeze assets temporarily and pending the outcome of a legal action. The plaintiff can essentially obtain a lien on the other party’s assets (essentially “attaching” themselves to the asset), which can be used to seize the asset should the plaintiff receive a favorable judgement in the case. This lien can be placed on any number of assets including the titles of cars, property, etc. and can even be used in cases involving a replevin.
A writ of attachment is generally used by businesses should a contract not go their way, but they can also be used if person A owes person B money, and person A needs to attach him or herself to person B’s property pending the outcome of the case. This prevents person B from liquidating assets and getting rid of them in the event the do not win their case.
An attachment bond is often required in this process in order for the court to accept the writ of attachment.
How to Obtain an Attachment Bond
Attachment bonds can be obtained just like any other surety bond, by working with a reliable surety agency. It’s best to work with a surety agency because these types of bonds can be tricky. There are several things you will need to obtain an attachment bond:
- The approximate value of the property that the lien is being placed on (this should be as close to its true value as possible and is especially important for vehicles. Bluebook values are one resource, but it also depends on the condition of the car.
- Details from your court case (this lets the surety know that you have the cause to obtain a writ of attachment)
If you can provide this information, and work with the right surety agency, the process of obtaining the bond will go more smoothly and you will be able to obtain the bond much more quickly.
Disclaimer: this is for informational purposes only and is not intended to be legal advice. If you need legal counsel, please contact an attorney directly.