Demand Forfeiture Bond In New York

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Multi-State
Control #:
US-00415BG
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Word; 
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Description

A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.

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FAQ

If a defendant's bond is forfeited, it means that they have failed to comply with the conditions of their release.

Under New York State law, District Attorneys can forfeit “proceeds” of crime and “instrumentalities” of crime. However, in New York, state prosecutors cannot forfeit real property, except in certain drug cases. That means that they are relatively powerless to go after your home.

A bail is forfeited when a defendant fails to appear, without sufficient excuse, for arraignment, trial, judgment, or any occasion prior to the pronouncement of judgment if the defendant's presence in court is legally required, or if the defendant fails to surrender in execution of the judgment after appeal.

Bond forfeiture means that the person loses the guarantee made by the bail bond company on their behalf. There are some circumstances in which the judge might excuse the accused for missing court and bail or bond can be reinstated.

A bond forfeiture occurs when a person is required to show up for court on either a personal bond or a surety bond, and they fail to show up for that court date. Some judges will give a bit of leeway, especially if that person has an attorney who can argue for them as to why they were not able to make it.

This rule: '… means the rule of public policy which in certain circumstances precludes a person who has unlawfully killed another from acquiring a benefit in consequence of the killing. '

There are three types of forfeiture under federal law: criminal forfeiture, civil judicial forfeiture, and administrative forfeiture.

To start forfeiture proceedings the freeholder must inform the leaseholder that a breach of the terms of the lease has been committed and that the leaseholder has the opportunity to resolve the said breach. If the breach is not resolved, the freeholder can start court proceedings to recover possession.

Under New York State law, District Attorneys can forfeit “proceeds” of crime and “instrumentalities” of crime. However, in New York, state prosecutors cannot forfeit real property, except in certain drug cases. That means that they are relatively powerless to go after your home.

More info

To File a Claim: A claim must be filed with the agency that gave notice of the seizure and intent to forfeit. Fill out the contact form or call us at 212.312.Article 520 of the State of New York Criminal Procedure Law Bail and Bail Bonds. Bond posting of cash bail. There is a procedure, called remission of forfeiture, which allows a person who posted bail to apply for it to be returned if it has been forfeited. Bonds may be ordered to be posted in the form of cash, signature, secured bond through a surety company, property, or combination of. Q: What information should be included in a claim in a civil or criminal forfeiture matter? A judge must review and approve a bond before a bail bonds company can cover the bond in exchange for a premium and collateral. Bail forfeiture means that money that was paid for a person's release from jail pending trial is relinquished to the court. The application must be made within one year after the forfeiture of the bail is declared upon at least five days notice to the district attorney.

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Demand Forfeiture Bond In New York