From time to time, companies need to either seize a product or obtain a replevin for a product that they sold or leased to another company where that other party is no longer paying or is no longer entitled to said property. In the state of Kentucky, pursuant to KS425.111, you can seek a replevin seizure. To do that, you would need to file a Plaintiff’s bond with your motion to have the Court issue an order for the return of those products to the party to which they rightfully belong. These bonds are set at twice the value of the chattel. A simple example would be if you’re seizing $50,000 in chattel, the bond should be $100,000. The bond provides for damages to the party who has the chattel in their possession.

If it was ultimately determined that the party seizing or seeking the replevin was not entitled to seize the item, the bond is recourse for the party who currently is in the possession of the item and is obtained by the party seeking the seizure or replevin. In order for the obligee (or party whose item was seized) to make a claim on the bond, they will need to obtain a final Judgment against the party that seized the item. The reason for this is — why would the Court grant seizure or replevin if the other side was not entitled to do so? The Court needs a process to give the other side a recourse.

This also prevents parties who are not entitled to the property from making frivolous motions for a seizure of property that is not theirs.

Since property/chattel can be moved quickly to evade a court order, it is best to have the bond lined up ahead of time. You do not want to make a motion only to find out there is nothing to seize. Call my office today to have the seizure bond lined up ahead of time!

Neil Pedersen
PEDERSEN & SONS SURETY BOND AGENCY, INC.
15 Maiden Lane Suite #800
New York, NY, 10038
212-227-7277
800-720-7277
neil@courtbondnow.com

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