A Replevin Bond is necessary when a plaintiff asserts ownership of property currently in the possession of a defendant. The Replevin Bond allows the plaintiff to obtain possession of the property in question. In the event that the court rules that the plaintiff is not entitles to the property, the plaintiff will return the property and the bond covers the value of the property for any damages or costs associated with the property transfer.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Replevin Bond holds you accountable for your decisions.
By possessing a Replevin Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your decisions.