Mississippi Replevin Bond
AmeriPro Surety Bonds | 844-589-9732
Mississippi Replevin Action; Bond Amount and Purpose
An action of replevin occurs in a civil litigation proceeding. The replevin allows the Plaintiff, before a final judgment is given in the underlying case, to seize and take possession of the disputed property held by the adverse party (i.e. that is, the Defendant).
A condition of granting the order of replevin is that the Plaintiff obtains a surety bond in the amount that the court directs.
According to Mississipi statute Title 11, Chapter 37, 11-37-103, as amended, the amount of the surety bond should be twice the value of the property in question, subject to the judge’s decision.
While required of the Plaintiff, the purpose of your replevin surety bond is to protect the Defendant in case the court subsequently determines that the action of replevin was wrongly issued. In such a determination, the Defendant may be compensated for the loss and harm cause due to a (subsequently determined) wrongly issued replevin.
Qualifying and the Premium
Pre-qualifying for the Mississippi replevin bond is by the following:
- An applicant who requires a bond for $50,000 and less, may be approved without a credit check inquiry;
- An applicant who requires a bond for greater than $50,000, requires review of the application by a surety bond underwriter. This review includes a credit check inquiry. Approval is based on a determination of good credit, and providing the underwriters with any additional information requested, if applicable.
For all MS replevin surety bonds, regardless of the amount, our agency will need the following from you:
- A copy of the Mississippi court order which states that a replevin bond is required. This order will typically also provide our agency with all of the other information which needs to be included on for your bond to be acceptable to the court;
- A completed surety bond application. This application can be sent to you via DocuSign for ease of completion;
- Upon approval of your replevin surety bond request, payment of at least the first annual premium. Premiums paid are earned in full; no refund is offered, either in full or in part.
Issuance of your Replevin Bond
As soon as we have the first annual premium paid for an approved replevin bond, your bond and a Power of Attorney form are issued to you immediately.
Our agency will sign your bond as Surety; upon receipt, you’ll sign your bond as Principal. You will then file all bond documents received, including the POA form, to the respective court.
Annual Renewal of Your Replevin Premium
The premium for your replevin surety bond will renew annually on the anniversary of your bond’s issuance, for as long as the Mississippi court requires surety.
Premiums paid are earned in full.
AmeriPro Surety Bonds is a surety bonds-only agency which provides replevin surety bonds, license and permit, probate, and other commercial bonds in all 50 states.
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