A lawyer who specializes in a variety of areas of law is referred to as a bond attorney. The term is most commonly used to describe an attorney hired to provide legal advice during a municipal bond offering. A bond attorney is a lawyer who assists a prospective homeowner in obtaining a bond or home loan in some jurisdictions. In criminal cases, a lawyer who is familiar with bond reduction motions may be able to help a defendant reduce his or her bail bond.
A local government entity, such as a city, school district, or county, usually issues municipal bonds to investors during a municipal bond offer proceeding. Bond proceeds are frequently used to fund capital projects or to cover operating and maintenance costs in the short term. Interest income earned on municipal bonds is generally exempt from both federal and state income taxes in the state where the bonds were issued. Municipal bonds are mostly used in the US and its territories, such as Puerto Rico.
A municipal bond attorney usually provides a legal opinion on the bond issuance at some point during the bond process. The opinion usually outlines the terms of the offering and declares that the bond being issued is valid and legally binding on all parties. The bond attorney also ensures that the bond is structured in such a way that interest income is exempt from federal and state income taxes, as required law. The opinion of the bond attorney is commonly referred to as a “unqualified opinion.” Ex-legal bonds are municipal bonds that are issued without a legal opinion.
Bond attorneys assist homebuyers in obtaining bonds or loans for the purchase of a home in some countries. A bond attorney, for example, prepares home loan documentation and then reviews it with the homebuyer in South Africa. In most cases, the attorney is also in charge of preparing and issuing any related guarantees, as well as preparing documents for deeds office filing.
A criminal law bond attorney can help a criminal defendant reduce bonds, which are financial instruments used to keep a defendant out of jail while awaiting trial. Bonds can be issued for cash or cash equivalents in many jurisdictions. Cash or a home, for example, could be put up as collateral for a bond through a bonding company. If a defendant cannot afford the bond, his or her attorney can file a motion with the court to reduce the bond amount. The goal of the motion is to reduce the defendant’s bail amount to a reasonable amount.