What is Forfeiture Bond in Law, in simple words, Forfeiture Bond is the encashment or enforcement of a guarantee by its beneficiary under the terms of a guarantee agreement. Bail bond forfeiture results when a court appearance is missed, and the company or person who put up the bond is required to pay the defendant’s outstanding bail amount.
Definition of Forfeiture Bond
A bond providing for forfeiture of the full penalty upon breach of the condition of the bond.
Legal Meanings of Forfeiture of Bond
Under legal terms, Bail bond forfeiture results when a court appearance is missed, and the company or person who put up the bond is required to pay the defendant’s outstanding bail amount. A forfeited bond becomes the property of the jurisdiction overseeing the case, and it cannot be refunded.
What is a Bond Forfeiture Warrant
Failing to show up for court is a serious matter with serious consequences. The judge can issue a “bond forfeiture warrant.” That means any bond you may have posted will now belong to the State. Additionally, the court has now issued a warrant for your arrest.
Is a Bond Forfeiture a Conviction
Bail/Bond Forfeiture – Non-Conviction. The defendant forfeits or pays their bond in place of going to trial. Convicted – Conviction. The defendant is found guilty of the charges.
What is a Judgment of Forfeiture
(a) Notice to the Defendant. A court must not enter a judgment of forfeiture in a criminal proceeding unless the indictment or information contains notice to the defendant that the government will seek the forfeiture of property as part of any sentence in accordance with the applicable statute.
What is a Notice of Bond Forfeiture
When a defendant released on cash bail fails to appear in court, or otherwise violates a condition of their bail, the court can declare the bail bond forfeited. State laws often require that notice of the forfeiture be sent to the defendant and to their surety.
What is an Order of Forfeiture
It is an in personam (against the person) action and requires that the government indict (charge) the property used or derived from the crime along with the defendant. If the jury finds the property forfeitable, the court issues an order of forfeiture.
What is a Civil Forfeiture
Civil forfeiture in the United States, also called civil asset forfeiture or civil judicial forfeiture or occasionally civil seizure, is a legal process in which law enforcement officers take assets from persons suspected of involvement with crime or illegal activity without necessarily charging the owners with.
What is Forfeiture of Property
Asset forfeiture or asset seizure is a form of confiscation of assets by the state. It typically applies to the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities, drug related crimes, and other criminal and even civil offenses.