A Release of Lis Pendens Bond is recourse for a defendant who wishes to sell property but cannot because the plaintiff has blocked their right to sell. The bond is the defendant’s guarantee that he or she will abide by the court ruling. This type of Bond can cost anywhere from 1% to 2% of the Bond amount being required. Typically, the 2% rate is assigned when collateral hasn’t been posted. If collateral is brought into the equation, there is a higher chance of the lower rate of 1%.
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What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.