Probate & Other Court Bonds
A Probate bond guarantees an honest accounting and faithful performance of duties by fiduciaries/trustees. These bonds are required by courts or statutes as estates of deceased persons, incompetent persons, and minors are set up and administered. (For the estates)
A Bankruptcy or Equity bond might be required of an appointed fiduciary for the sale of real estate or for property in foreclosure, reorganization or other litigation. This bond guarantees an honest accounting and performance of duties while managing and distributing the assets as directed by the court.
Common types include Receivers and Trustees.
Other Judicial bonds may be required by a court in cases where someone is seeking legal benefit or relief. These court bonds can be extremely hazardous. Specific supplemental information may be required.
- Attachment bonds
- Release of lien