In the state of Minnesota, according to the MN Statute 550.36 STAY OF EXECUTION ON MONEY JUDGMENT, attorneys can request a stay of execution to temporarily suspend the execution of a judgement made by the court. These stays are ideal for when a defendant needs to pursue further legal action in a case, specifically an appeal. By using a stay of execution, the defendant can defer a judgement, meaning they will not (yet) have to pay until the appeal has run through the legal process.
Stays of judgement usually require a specific type of surety bond, known as a stay of execution bond.
What to Know About Stay of Execution Bonds
When a stay of execution is requested, the court will likely require a stay of execution bond to be obtained. The amount of the bond is generally the amount of the judgement, or a lesser amount as approved by the court. The purpose of these types of bonds is to ensure that, should the defendant lose the appeal, the final judgement is paid. The bond must be obtained by the party requesting the stay of judgement and protects against losses due to the appeal process. These types of bonds also provide protection to the courts because they prevent frivolous and unnecessary appeals from tying up court resources.
How the Bonds Work
When a party loses a case and a judgement is made against them, they may appeal the judgment, if allowed. When they make the appeal, the court will require a surety bond, which must be obtained before the appeal can go through. Failure to obtain this bond could result in a failure of the appeal. The bond is set to last for the entirety of the appeal and will be removed when a judgement is made on the appeal.
It is up to the party obtaining the bond to pay for the cost of the bond, which is a fraction of the cost of the entire amount of the bond. If the defendant loses the appeal and fails to pay the judgement, a claim against the bond can be made to recoup the costs and some of the judgement amount.
There are other bonds that are similar to this, which include appeals bonds and supersedeas bonds.
Getting a Stay of Execution Bond
To obtain a stay of execution bond, make sure you have the information about your case, including the amount of the judgement made against you and the court ordered amount for the bond. Other information may be required. At The Patrick J. Thomas Agency, we help attorneys and their clients obtain the bonds they need based on the timeline given to them by the court.
Don’t let your case fall by the wayside because you fail to obtain a bond on time, work with our helpful surety bond agents today.
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.