New Mexico Replevin Bond
AmeriPro Surety Bonds | 844-589-9732
Replevin Surety Bond; Purpose
In a civil litigation proceeding, a judge may have issued an order of replevin. This is also sometimes referred to as a writ of attachment.
A replevin order allows a Plaintiff, prior to the final judgment in the underlying case, to seize and take possession of the disputed property of the Defendant.
A condition of the order replevin taking effect is that you obtain a surety bond in the amount that the presiding court directs. In New Mexico, the surety bond required is double the amount of the property in question, according to New Mexico Statutes Section 42-8-6, as amended.
The purpose of the surety bond is that in case the court later determines that the replevin was wrongly issued, you will return the property to the Defendant without delay; and that, moreover, in case you do not, the Defendant may be financially compensated for the loss and harm caused by a wrongly issued replevin order and your failure to return the property.
Qualifying and the Premium
Our agency can provide you with the New Mexico replevin bond in the amount that the court requires. Here are the ways that you may qualify:
- If you require a replevin bond up to $50,000, we can provide this bond to you without a credit check inquiry;
- If you require a NM replevin surety bond greater than $50,000, approval for your surety bond requires a surety bond underwriter review. This review includes a credit check inquiry. To be approved at an amount greater than $50,000, good credit is required.
Regardless of the amount of your replevin surety bond, we’ll need the following:
- A copy of the court order or minutes stating a replevin surety bond requirement;
- A completed surety bond application. The application can be sent to you via DocuSign;
- Review and approval of your application subject to the limits and conditions discussed above;
- Upon approval of your surety bond application, payment of the first annual premium.
Issuing Your Replevin Bond
After payment of the first annual premium, your New Mexico replevin bond is issued to you and sent to you for filing. Included with your bond will be a Power of Attorney form.
You will sign your bond as Principal before having it filed by you or legal counsel with the presiding court.
Annual Renewal of the Premium
The premium associated with the New Mexico replevin surety bond renews annually on the anniversary of your bond’s issuance.
Premiums paid are earned in full and do not qualify for either a full or partial refund.
About Our Agency
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in New Mexico and all 50 states. Please call our agency today at:
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