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Michigan Replevin Bond

October 21, 2020

The Michigan replevin bond is required, by order of the court, of a Plaintiff in a civil litigation proceeding. The bond is for the potential benefit of the Defendant. Please call AmeriPro Surety Bonds at 844-589-9732.

Michigan Replevin Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Michigan Replevin Statute; Bond and Purpose

 

 

 

An action of replevin occurs when a Plaintiff, by order of the court, is permitted to seize the assets or disputed property of a Defendant before a final judgment is rendered in the underlying case.

As a condition of granting a replevin action, the Plaintiff is required to obtain a surety bond. In Michigan, according to Rule 3.105, as amended, the amount of the surety bond is to be twice the value of the property as stated in the complaint. The presiding court will determine the surety bond amount required.

While required of the Plaintiff, the replevin surety bond is for the benefit of the Defendant in case the court subsequently determines that the replevin action was wrongly issued. In such a determination, the Defendant would be able to be compensated for the loss and harm caused as a result of the replevin order.

 

 

 

Qualifying and the Premium

 

 

 

Our agency offers you the Michigan replevin bond in whatever amount that the court requires of you. Up to a $50,000 surety bond amount, we also do so without a credit check inquiry.

A repelvin surety bond amount greater than $50,000 is reviewed by a surety bond underwriter. Approval for these higher amounts is based upon good credit, and providing any additional requested, if asked.

For all replevin bonds issued by our agency, we’ll nee the following from you:

  • A copy of the court order/minutes stating the requirement of the replevin bond. This order is needed as it provides us with all of the items needed to be included on your surety bond;
  • A completed application. The application can be sent to you via DocuSign for ease of completing. If required for review based on the surety bond amount, once the DocuSign application is returned, it is immediately sent to a surety underwriter. Amounts $50,000 and less do not have the review;
  • Upon approval of your surety bond, payment of at least the first annual premium.

Once the premium is received, our agency issues your bond to you immediately. Included with your bond will be a Power of Attorney form. We will sign your bond as Surety; upon receipt, you’ll sign your bond as Principal.

You will then file (or have legal counsel file for you) your surety bond and Power of Attorney form.

 

 

 

Annual Renewal of the Premium

 

 

 

The premium for your Michigan replevin surety bond renews annually for as long as the court requires surety. The bond will renew on the anniversary of its issuance.

Premiums paid for issuance of this bond are earned in full, and prorating or refunding of the premium does not occur.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Michigan and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you...

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