What is a garnishment surety bond?
A garnishment is considered a court bond which requires a third person owing money to the debtor or holding property belonging to the debtor to turn over to the court or sheriff the money or property owed in order to satisfy the judgment. Each state has different regulations as to the amount of a debtor’s wages to be garnished or held from their payroll checks. A garnishee is a person who holds money or property of a debtor subject to garnishment action. A garnishment bond protects the defendant from financial harm if the plaintiff loses their case.
What is a injunction surety bond?
An injunction bond is considered a court bond which is required when a court order is conditioned upon the plaintiff posting a bond. This bond requires a defendant to do or refrain from doing something. The bond protects the defendant from loss in case the court decides the injunction was inappropriate.
What is a replevin surety bond?
A replevin surety bond is considered a court bond and is filed mainly to recover specified personal property (not including real estate). A writ of replevin is issued providing the plaintiff can provide a good title to the property in question. The bond amount is typically twice the value of the goods depending on the jurisdiction. The bond also pays damages for wrongful taking of goods. Similar bonds include a claim and delivery bond.