Texas Sequestration Bond | AmeriPro Surety Bonds | 844-589-9732
Texas Sequestration Bond: Mandated by Texas Law
The Texas Rules of Civil Procedure, Section 8 outlines the conditions under which one is required to obtain a sequestration bond.
First, What is a Sequestration Bond?
A Texas sequestration bond is a surety bond, obtained by the plaintiff, in a dispute regarding property held by a defendant, which allows a Texas Sheriff or Marshall to remove the property from the defendant before a judgment is given in a case.
Removal of the property from the possession of the defendant prevents the defendant from disposing of the property.
If the defendant were able to dispose of the property, doing so would thereby remove the property from the court’s reach and authority.
The surety bond guarantees that if it is subsequently discovered that the property were wrongly seized from the defendant, the defendant will receive the property’s full monetary value back, if not the property itself.
Qualifying and the Premium
Our agency offers you the Texas sequestration surety bond in the amount required. Up to a $100,000 surety bond requirement, we also do so without a credit check inquiry. There is no collateral involved in approval for this surety bond.
If you require a sequestration bond greater than $100,000, approval is subject to review by a surety bond underwriter and the demonstration of satisfactory credit.
For any sequestration surety bond in any amount, our agency will need the following from you:
- A copy of the Texas court order specifically stating that a sequestration surety bond is required;
- Completion of a short surety bond application. The application can be sent to you via DocuSign to facilitate ease of completing;
- Review of your surety bond application according, in part, to the dollar limits discussed above (i.e. review and approval of your credit and other criteria for a sequestration greater than $100,000);
- Upon approval of your application, payment of the premium.
Our agency issues your bond to you (or for legal, counsel your client) along with a Power of Attorney form. We’ll send the draft for your review. The original surety bond, however, will have our signature as surety, and the Principal, whose bond it is will need to sign it as well.
After signing your sequestration bond, you’ll file it with the respective Texas civil court.
AmeriPro Surety Bonds
Despite its seemingly exotic nature, the sequestration bond itself is rather simple and straightforward. The principal — or legal counsel — may call our agency today.
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