Iowa Replevin Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
An action of replevin, which is alternately referred to as a ‘writ of possession,’ occurs during a civil litigation proceeding. By order of the court, the Plaintiff is allowed to seize and take possession of the disputed property of the Defendant prior to a judgment being rendered in the underlying court proceeding.
In Iowa, a replevin surety bond is mandated by the state’s legislative body, Chapter 643.7, as amended.
While required of the Plaintiff, this surety bond is issued on behalf of, potentially, the Defendant. The purpose of the replevin surety bond is to protect the Defendant in case the presiding court subsequently determines that the action of replevin was wrongfully issued.
The harm having already been done in such a determination, the surety bond is a financial guarantee for the Defendant(s) that they may be compensated for the loss caused by the wrongfully issued replevin.
Iowa statute indicates that a replevin surety bond is required in at least twice the value of the property being removed.
Qualifying and the Premium
Our agency can provide you (or, for legal counsel, your client) with the Iowa replevin bond in whatever amount required.
If you require a surety bond up to and including a $50,000 requirement, we do so without a credit check inquiry; higher amounts are based on approval of your good credit. Sometimes, depending on the amount required , additional information (this usually means financial statements) may also be requested for underwriting purposes.
Regardless of the amount of your replevin surety bond requirement, we’ll need the following to have your bond issued:
- A copy of the court order or a copy of the minutes stating that a replevin surety bond is required;
- A completed application. We offer this application to you via DocuSign which facilitates ease of completion. The application is approved automatically, generally, for amounts less than $50,000. Amounts greater than that are reviewed by an underwriter. This review will include a credit inquiry;
- Upon approval, payment of at leas the first annual premium.
Issuing Your IA Replevin Bond
Upon approval of your replevin surety bond and payment of the premium, your bond and a Power of Attorney form are issued to you for signing (you will sign as Principal; we will sign as Surety).
We will send the bond to you by mail. We can also email the bond and POA to you for filing, but you’ll first want to check to see if the court will accept emailed copies.
Annual Renewal of the Premium
The premium associated with your Iowa replevin bond renews annually, on the anniversary of your bond’s issuance, for as long as the court requires surety.
Premium paid are earned in full. No refunds, either in whole or in part (prorating) are offered.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Iowa and all 50 states.
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