New York Forfeiture Collateral in Lieu of Appearance, March 24, 2014, is a type of bail bond in which a property is used as collateral instead of a cash payment. This type of bond allows an accused person to remain free until his or her court date. The collateral is held by the court until the accused appears for trial or pays the full bail amount. If the accused fails to appear, the court may forfeit the collateral and use the proceeds to pay the full bail amount. There are two different types of New York Forfeiture Collateral in Lieu of Appearance, March 24, 2014: Real Estate Collateral and Personal Property Collateral. Real Estate Collateral is a type of bail bond in which a piece of real estate is used as collateral instead of cash payment. The real estate can be owned by the accused, a family member, or a third party. The court holds the deed to the property until the accused appears in court or pays the full bail amount. If the accused fails to appear, the court may forfeit the property and use the proceeds to pay the full bail amount. Personal Property Collateral is a type of bail bond in which a piece of personal property is used as collateral instead of cash payment. Examples of commonly used personal property collaterals include jewelry, cars, and other valuable items. The court holds the title or deed to the property until the accused appears in court or pays the full bail amount. If the accused fails to appear, the court may forfeit the property and use the proceeds to pay the full bail amount.