Property Bond, How Posted
Sec. 11. Property bond, how posted. – A property bond is an undertaking constituted as lien on the real property given as security for the amount of the bail. Within ten (10) days after the approval of the bond, the accused shall cause the annotation of the lien on the certificate of title on file with the Registry of Deeds if the land is registered, or if unregistered, in the Registration Book on the space provided therefore, in the Registry of Deeds for the province or city where the land lies, and on the corresponding tax declaration in the office of the provincial, city and municipal
Within the same period, the accused shall submit to the court his compliance and his failure to do so shall be sufficient cause for the cancellation of the property bond and his re-arrest and detention.
Sec. 12. Qualifications of sureties in property bond. – The qualifications of sureties in a property bond shall be as follows:
(a) Each must be a resident owner of real estate within the Philippines;
(b) Where there is only one surety, his real estate must be worth at least the amount of undertaking;
(c) If there are two or more sureties, each may justify in an amount less than that expressed in the undertaking but the aggregate of the justified sums must be equivalent to the whole amount of the bail demanded.
In all cases, every surety must be worth the amount specified in his own undertaking over and above all just debts, obligations and properties exempt from execution.
Sec. 13. Justification of sureties. – Every surety shall justify by affidavit taken before the judge that he possesses the qualification prescribed in the preceding section. He shall describe the property given as security, stating the nature of his title, its encumbrances, the number and amount of other bails entered into by him and still undischarged, and his other liabilities. The court may examine the sureties upon oath concerning their sufficiency in such manner as it may deem proper. No bail shall be approved unless the surety is qualified.
WHAT ARE THE MINIMUM REQUIREMENTS FOR SURETIES?
> Surety must be a resident owner of real estate within the Philippines
> If there is only one surety, his real estate must be worth the amount of the undertaking
> If there are two or more sureties, the aggregate of the sums must be equivalent to the whole amount of the bail demanded, and every surety must be worth the amount specified in his own undertaking over and above all just debts, obligations, and properties exempt from execution
MAY THE COURT ADDITIONALLY REQUIRE THAT THE SURETY BE A RESIDENT OF THE PHILIPPINES BUT OF THE PROVINCE?
> Yes, the provision which requires that the sureties must be a resident householder or freeholder within the Philippines is but a minimum requirement
> And where this requirement would not prejudice the petitioner, the judge has the power to add such requirement