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What is a Delivery Bond and Its Legal Significance?
Definition & Meaning
A delivery bond is a legal agreement that allows a defendant to regain possession of property that has been seized under a court order, known as a writ of attachment. This bond ensures that if the court rules against the defendant, they will return the property to satisfy any judgment. If the property is not returned, the sureties (those who guarantee the bond) may be liable for the property's value or the amount owed in the judgment.
This type of bond is also referred to as a forthcoming bond or a redelivery bond.
Table of content
Legal Use & context
Delivery bonds are commonly used in civil litigation, particularly in cases involving attachment actions. In these scenarios, a plaintiff may seek to secure a defendant's property to ensure that a potential judgment can be satisfied. The bond allows the defendant to regain control of their property while providing security to the plaintiff.
Users can often manage the process of obtaining a delivery bond through legal forms and templates available from resources like US Legal Forms, which can simplify the legal procedures involved.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A defendant in a civil lawsuit has their vehicle seized due to an attachment order. They post a delivery bond to regain possession of the vehicle while the case is ongoing. If they lose the case, they must return the vehicle to satisfy the judgment.
Example 2: A business owner has equipment attached for a debt. They secure a delivery bond to retrieve the equipment, ensuring it will be available if the court rules in favor of the creditor. (hypothetical example)
State-by-state differences
Examples of state differences (not exhaustive):
State
Delivery Bond Requirements
California
Requires a bond equal to the value of the property attached.
Texas
Allows for a delivery bond to be set at a percentage of the property's value.
New York
Typically requires the bond to cover the full amount of the claim against the property.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Forthcoming Bond
Another name for a delivery bond.
No difference; terms are interchangeable.
Attachment Bond
A bond that allows a plaintiff to attach a defendant's property before a judgment.
Attachment bonds are used by plaintiffs, while delivery bonds are used by defendants.
Common misunderstandings
What to do if this term applies to you
If you find yourself needing a delivery bond, consider the following steps:
Consult with a legal professional to understand your rights and obligations.
Gather necessary information about the property and the case.
Explore legal templates available through US Legal Forms to draft your delivery bond.
If the situation is complex, seek professional legal assistance to navigate the process.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.
Jurisdiction: Civil courts where attachment actions are filed.
Possible Penalties: Liability for the bond amount if property is not returned.
Key takeaways
Frequently asked questions
A delivery bond is a legal agreement that allows a defendant to regain possession of property seized under a court order, ensuring the property will be returned if they lose the case.
You can obtain a delivery bond by consulting a legal professional or using templates available through legal resources like US Legal Forms.
If you do not return the property, the sureties on your bond may be liable for its value or the amount owed in the judgment.