My question involves criminal law for the state of: New York (Long Island)
Can a house be used as collateral for bond? What about a house in pre-foreclosure or a house in which is paid off but the taxes are not being paid?
The terms were 10,000 cash or 25,000 bond. Supposedly the owner of the house put it up as collateral.
Is it my understanding that "collateral" is basically an "iou" and if you then don't pay, the house gets taken in the place of your non-payment?
What happens to the people that live there now? This person is very dramatic and is "freaking out" because she thinks they will get kicked out.
I am pretty versed on landlord/tenant law and I know you can't just get "kicked out". Would they get 30 days or would it go thru the courts like a "regular"
eviction?
Thanks.
Can a house be used as collateral for bond? What about a house in pre-foreclosure or a house in which is paid off but the taxes are not being paid?
The terms were 10,000 cash or 25,000 bond. Supposedly the owner of the house put it up as collateral.
Is it my understanding that "collateral" is basically an "iou" and if you then don't pay, the house gets taken in the place of your non-payment?
What happens to the people that live there now? This person is very dramatic and is "freaking out" because she thinks they will get kicked out.
I am pretty versed on landlord/tenant law and I know you can't just get "kicked out". Would they get 30 days or would it go thru the courts like a "regular"
eviction?
Thanks.
Bail, Bond and Pretrial Release Using a House As Collateral for a Bail Bond
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