Why Such A High Bail Bond?
When a judge in charge of setting your bail bond considers the factors against the amount you pay, there are really few situations that require such a high bail bond. One important thing to remember when considering to post a million dollar bail bond is that bail bonds do not get you out of jail but simply release you from custody while you go to criminal court, prior to sentencing.
Why Would A Judge Be Likely To Set Bond At $1 Million Or Higher?
Most of the time, cases in California which result in a million dollar bond have one of the following reasons:
- Most of the time, cases in California which result in a million dollar bond have one of the following reasons:
- Someone has died and your case is either murder, manslaughter or something involving the death of another person.
- The defendant has been charged with committing a very high financial crime, typically referred to as white collar crimes. As such you would be viewed as a high flight risk with a large amount of financial resources.
- Very serious crimes such as human trafficking, large amounts of drug trafficking, or crimes that add up to carry more than 10 years in prison.Â
Million Dollar Bond Requirements In California
When you are first arrested, it may seem like a simple decision to get a bail bondsmen to help with your million dollar bond. However, it is important to choose a bail bonds company with experience posting such a high amount on your behalf. While these types of bail bonds don’t happen very often, due to the circumstances related to your case, you may find that this is indeed the bail for your loved one.
When it comes to criminal cases, bail is often required to secure the release of an arrested person before their trial. In California, some charges require very high bail amounts in order to be granted. Getting a million dollar bail bond approved can be a difficult task and requires an extensive process. While many companies can post such a bail, due to various conditions, not all bail bondsmen will be able to post a bond of $1,000,000 or more. Luckily, Abba Bail Bonds has posted many of these types of bonds and can help you in your situation.
What Does The Court Look At To Post A Million Dollar Bond?
In order to secure a million dollar bond, the person or company applying for the bond must have an established relationship with the court and demonstrate financial responsibility. The individual or entity requesting the bond must be prepared to come up with collateral in order to pay off the full amount if necessary. In addition, they must provide proof of their financial stability and provide additional assurances that the money will be available if needed.
The court may also require a person to obtain a corporate surety bond, which is an agreement between two parties where one agrees to pay off the other’s debt in the event they are unable to do so themselves. The surety company must be licensed by the California Department of Insurance and must provide a written undertaking that they are financially responsible for the amount of the bond.
In addition to these requirements, the individual or entity requesting a million dollar bail bond must also be able to demonstrate their ability to pay the full amount if required. As such, they will have to show proof of income and property in order to demonstrate their financial capability.
Property As Collateral?
Using property as collateral can be an easy way to get the bondsman, court and underwriting insurance company to approve your release. Should you attempt to put up a property as collateral for your bail bond the math is quite simple to understand. Take the total amount of the bond, deduct the down payment from the total amount of bond. This is the amount that the property must have equity available in to post.
This is not to mean the total value of your home. Let’s say your homes total value is $1.2 million but only 50% paid off. This means you would have a total equity available of $600,000 to put toward your bail bond as property/collateral. In this scenario you may put up a secondary property as collateral that meets the total amount that would be owed should your defendant not show up to court. Also, depending on the gap between your collateral and the total amount of bond you may be allowed to put up the missing amount in cash as collateral to make up the difference. Not all bondsmen do this and this does depend on how much the missing amount would be.
Finally, the court may also look to see if the individual has any other assets that could be used as collateral in case of default. The court will take all of these factors into consideration when determining whether or not they will approve a million dollar bond request in California. This is commonly known as looking for ties to the community such as a business ownership, property ownership and areas like this that affect the financial likelihood of a defendant not showing up for their court date.
Getting Your Million Dollar Bond Approved
Once all of these million dollar bail bond requirements have been met, the court may approve the request for a million dollar bail bond. It is important to note that getting this type of bond approved can be very difficult and time consuming so it is best to enlist the help of a professional such as an attorney to help us at Abba Bail Bonds, in order to increase your chances of success.
Getting a million dollar bail bond approved in California is a complex process and requires an extensive review of financial information. It can be difficult to secure the necessary financing, but with the proper steps it is possible to get the amount required for your case.
By understanding the requirements and following all of the necessary protocols, you can increase your chances of getting your million dollar bail bond approved in California. With the right help and resources, you can get the funding needed to free yourself from police custody.
What Other Things Does A Court Look At To Approve A Million Dollar Bail Bond & Release?
When it comes to approving a million dollar bail bond and release, courts consider several different factors. Courts often assess the defendant’s risk of flight (the likelihood that they might flee the jurisdiction) when considering whether or not to approve such a high amount of bail. For instance, if the defendant has strong ties to the local community, including family, job and property, then the chances of them fleeing are much lower.
The court will also look at the nature of the alleged crime in question and whether or not there is a chance that the defendant might commit further crimes while out on bail.
Other factors taken into consideration include the defendant’s prior criminal record (if any) as well as their financial resources. If a court approves a million dollar bail bond, it is typically because they believe the defendant will be able to meet their financial obligations and stay in their community pending the outcome of the case. In addition, courts must also consider any potential harm that might come to others while the defendant is out on bail.
Overall, courts take a variety of circumstances into account when determining whether or not to approve a million dollar bail bond and release. However, the decision ultimately comes down to whether or not the court believes that the defendant is likely to appear for all required court appearances and stay in their local community pending the outcome of their case.
If so, then it may approve such a high amount of bail. Ultimately, the court must balance safety and justice in order to ensure the best outcome for all involved.
Contact Abba Bail Bonds For Your Million Dollar Bond
Apply For Bail Bonds
When you contact us at Abba Bail Bonds about a million dollar bail bond, please let us know what you have gathered so far so we can quickly start the process for your loved one. While these bonds do take time to post, we can get everything approved for you in as little as 48 hours if you have all of your paperwork ready. For a bond this high there are a few things we are looking for from you to get started.
List of Million Dollar Bail Bonds Requirements With Abba Bail Bonds
- Co-Signer Information (On Average At Least 4-8 Cosigners)
- Driver’s License, State ID, or Passport given for each cosigner
- Property or Cash As Collateral For The Total Amount of Bail Bond
- Defendant Will Usually Be Placed On GPS Monitoring & Will Have to Agree
- Where Will Defendant Be Living
- Cosigners Will Need to Submit Income Documentation to Verify Ability To Pay
- More Requirements Based on Specific Details of Your Case