Full question:
I put up property apperance bond with a bail bonding company and it was explained to me if the person did not appear a lein would be placed on my property. I was told the person failed to appear. The bonding company told me unless I could come up with 35,000.00 dollars they were going to take my property. They said the kind of bond I signed was a deed to secure debit with power to sale they could take the property without going to court. Be aware that the deed is in mine an my wife's name. they did the bond without her allowing them to do so. She did not sign anything. Is this still a legal bond, if it is how can I stop this forclosure? What would my options be; bankruptcy, quitclaim, or other means? I have a mortgage of 41,000.00 and the property value is 130,000.00. They said they could buy the mortgage and resale it to get their money. I dont know what the time limit is in this situation, its been about 4 weeks now. What kind of attorney [field of law] should I contact?
- Category: Civil Actions
- Subcategory: Liens
- Date:
- State: National
Answer:
Any general practice attorney should be able to assist with this civil matter. The legality of the bond depends on various factors, including how the property is owned. If the property is held as tenants in common, a creditor can only recover the debtor's interest in the property. If the property is sold to satisfy the debt, only the debtor's share can be collected. On the other hand, property held as tenants by the entirety cannot be seized for the individual debts of one spouse.
Since your wife did not sign anything, this may affect the bond's validity. It’s crucial to consult an attorney to discuss your options, including bankruptcy or a quitclaim deed. You should also inquire about the timeline for any foreclosure actions, as it has been about four weeks since you were informed of the situation.
To find the right legal help, consider reaching out to a general practice attorney who can guide you through this process.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.