COURT BONDS - Court Bonds Types

Probate

Administrators, Executors, Guardians given by a court fiduciary to secure the faithful performance of fiduciaries duties and compliance with the orders of the court having jurisdiction.

Probate Bonds Probate is the legal process in which a court oversees the distribution of property left in a will. A bond may be required. Its purpose is to require the person responsible for all fiduciary duties, especially as they apply to the sale of real estate, to discharge them according to law.

Trustees & other Fiduciaries

Trustees Liquidators, Receivers and Masters given by a court fiduciary to secure the faithful performance of fiduciaries duties and compliance with the orders of the court having jurisdiction.

Equity Court Bonds Trustees and receivers involved in the sale of real estate or other property in partition, foreclosure or reorganization should secure equity bonds Bankruptcy Court Bonds Bankruptcy court bonds are filed in the United States District. Receivers or trustees appointed by the court are required to file for a bankruptcy bond.

Judicial proceedings- Bonds

Judicial Proceeding Court Bonds are required by courts when a litigant is permitted some special right or remedy prior to final disposition of the case, which could cause the other party to be damaged.

Plaintiff Bonds: A plaintiff bond guarantees payment of damages suffered if an action is decided in favor of a defendant.
Defendant Bonds: A defendant bond guarantees payment of damages suffered if an action is decided in favor of the plaintiff.

Administrator Bond

Administrator bond – When a person dies leaving an estate but no will (intestate), the Surrogate’s Court appoints an administrator of the estate. An Administrator’s duties are to collect all the assets of the estate ascertain and pay the debts and expenses thereof and to distribute whatever balance remains to those entitled thereto by law. This bond guarantees that the administrator will faithfully discharge the trust given and will obey all orders and decrees directed by the court.

In order to effectively assist you with an Administrator Bond please attach a copy of the Court Order appointing the administrator. We will need you to provide us with the following information which is generally integrated within the court order and is requested within the appropriate section of the required bond application:

1. Name, address of the administrator, and relationship to the decedent.
2. Name of the deceased, date, and place of death.
3. Amount of bond.
4. Name and location of Court.
5. Name, address, and phone number of the Attorney for the estate.
6. Detailed description of assets of the estate.
7. List of liabilities left by the deceased, including those for taxes, last illness, hospital, and funeral.
8. Names and ages of the distributees of the estate.

Please remember to complete (in the sections indicated), sign, and return a Bond Application along with the court order.

Admiralty Bonds

Admiralty Bonds: Admiralty law covers just about anything having to do with ships, on both the oceans and inland waterways. Admiralty cases are heard in the United States District Court. Admiralty bonds are any bonds that are filed in such proceedings, and may be required for many of the same reasons that bonds are required in regular civil actions. Because admiralty law has its own peculiar terminology, admiralty bonds are considered a separate class of bonds.

Attach a copy of the court order to a completed and signed general bond application.

Appeal Bond

Appeal/Supersedeas Bond: When a party appeals a money judgment against them, filing the appeal is usually not sufficient to prevent the judgment creditor from taking action to collect the judgment while the appeal is pending. In order to stay collection of the judgment, the judgment debtor must file an appeal bond (sometimes called a supersedeas bond), which guarantees that the judgment will be paid if the judgment debtor is not successful in getting the judgment reversed. (This bond is typically collateralized.)

In order to effectively assist you with an Appeal Bond we will require the following a Copy of the Court Order fixing the bond amount. All the additional information needed in the preparation of the bond is obtained from here:

1. Name, address, and phone number of the attorney for the applicant.
2. Complete title of action
3. Name and location of Court.
4. Amount and date of judgment, including date on which judgment was entered

Please note, Appeal Bonds usually require collateral

This is a financial guarantee bond that usually requires 125% collateral or satisfactory demonstration of the applicant’s financial ability. Therefore, if the bond is sought without collateral please provide a current detailed financial statement from the applicant.

In addition, please complete, sign, and return the Bond Application in the appropriate sections.

Cost Bond

Cost Bond: Some states do not allow a nonresident to file an action in their courts unless the nonresident files a cost bond to guarantee payment of court costs. These bonds are typically small (under $2000).

In order to effectively assist you with a Costs bond, we will require the following a Copy of the Order fixing the bond amount . All the additional information needed in the preparation of the bond is obtained from here.

1. Name, address, and phone number of the attorney for the applicant.
2. Complete title of action
3. Name, and location of Court.
4. Amount and date of judgment, including date on which judgment was entered

In addition, please complete, sign, and return the Bond Application in the appropriate sections.

Attachment Bond

Attachment Bond: Attachment is a means of placing a defendant's property into the custody of the court at the request of the plaintiff before the trial as security for the plaintiff's claim. Many states require that the plaintiff post an attachment bond to guarantee the plaintiff will pay damages caused to the defendant by the attachment if the attachment is later determined to be wrongful.

Attach a copy of the court order to a completed and signed general bond application.

Release of Attachment Bond: When property is attached, the defendant is not helpless. The defendant usually has the right to have the property returned by posting a Release of Attachment bond to serve in lieu of the property as security for the plaintiff's claim. (This type of bond is typically collateralized)

In order to effectively assist you with an Attachment Bond we will need you to provide us with the following information:

1. Complete title of action.
2. Name, location of Court, and amount of bond.
3. Name, address, and phone number of attorney for the applicant.
4. Amount of plaintiff’s claim and nature thereof.
5. Grounds of the attachment.
6. Nature and alleged ownership of property to be attached and where located.
7. Detailed adequate financial statement of current date, and business references from the applicant.

In addition, please complete, sign, and return the attached Bond Application in the sections indicated.

Injunction Bond

Injunction Bond: An injunction is a court order that requires a party to do, or to refrain from doing, some particular act. A short-term, temporary injunction is called a temporary restraining order. The bond guarantees that the other party will be paid their damages caused by the injunction if the injunction is later determined to have been wrongful. (This bond is typically collateralized.)

In order to effectively assist you with an Injunction Bond we will need you to provide us with the following information which is usually provided within the Court Order regarding this matter.

1. Complete title of action.
2. Name, location of Court, and amount of bond.
3. Name, address, and phone number of attorney for the applicant.
4. Amount of plaintiff’s claim and nature thereof.
5. Grounds for the relief requested

Please note, Injunction Bonds usually require collateral

This is a financial guarantee bond that usually requires 100% collateral or satisfactory demonstration of the applicant’s financial ability. Therefore, if the bond is sought without collateral please provide a current detailed financial statement from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond application in the sections indicated.

Mechanics Lien Bond

Release of Mechanic's Lien Bond: A mechanic's lien can be removed from real property by recording a release of mechanic's lien bond. In some states, the party filing the bond must serve a copy of the bond on the lien claimant. The bond then stands in place of the property as security for the lien claimant's claim. (This bond is typically collateralized.)

In order to effectively assist you with an Mechanic’s Lien Bond please attach a copy of the Court Order appointing the administrator. We will need you to provide us with the following information which is generally integrated within the court order and is requested within the appropriate section of the required bond application:

1. Copy of the Order fixing the bond amount.
All the information needed in the preparation of the bond is obtained from here.

2. Detailed financial statement
This is a financial guarantee bond that usually requires 100% collateral or satisfactory demonstration of the applicant’s financial ability. Therefore, if the bond is sought without collateral please provide a current detailed financial statement from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond application in the sections indicated.

Assignee Bond

An Assignee is for the benefit of creditors. Debtor transfers property in trust to the assignee for the benfit of the creditors for the payment of the debts. (State court)

In order to effectively assist you with an Assignee Bond please attach a copy of the Court Order appointing the administrator. We will need you to provide us with the following information which is generally integrated within the court order and is requested within the appropriate section of the required bond application:

1. Name, address, and occupation of assignee.
2. Name of assignor and nature of business.
3. Amount of bond
4. Name and location of Court.
5. Date of assignment, and date of its recordation.
5. Description of the assets covered by the assignment and summary of liabilities.
6. Copy of court order thereon, if business is to be conducted.
7. Name, address, and phone number of attorney for assignee.
8. Bank or business references from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond application in the sections indicated.

Committee Bond for Incompetent Persons

Committee Bond for Incompetent Persons- Incompetent is adjudged by the court to be incapable of handling their affairs requires the assignment of their property by a fiduciary called a committee.

In order to effectively assist you with a Committee Bond we will need you to provide us with the court order and the following information:

1. Name and address of Committee, indebtedness, if any to, and relationship to the incompetent
2. Name of incompetent, age, and location.
3. Name and location of Court
4. Amount of bond.
5. Name, address, and phone number of attorney representing the Committee.
6. Date and order of appointment.
7. Detailed description of assets and liabilities of the estate
8. Name and address of heirs of the incompetent.

In addition, please complete, sign, and return the attached Bond Application in the sections indicated. Please provide a copy of the court order of appointment.

Executor Bond

An Executor –is one nominated in the last will and testament of the decedent to carry out the terms thereof. The bond guarantees the fiduciary obligations of the Executor.

In order to effectively assist you with an Executor Bond we will need you to provide us with the court order and the following information:

1. Name, address, and occupation of the applicant, indebtedness, if any to, and relationship to the deceased, and if the executor or administrator in prior possession of the assets in any capacity.
2. Name of deceased, place and date of death, and citizenship.
3. Amount of bond
4. Name and location of Court.
4. Name, address, and phone number of attorney for executor or administrator with the will annexed.
5. Detailed description of assets of the estate.
6. List of liabilities left by the testator including those for taxes, last illness, hospital, and funeral.
7. Name and ages of the beneficiaries under the will.
8. Copy of the will or pertinent abstract of its terms.

This information will be specified in our bond application. In addition to the court order, please complete, sign, and return the attached Bond Application in the sections indicated.

Counter Replevin Bond

Counter Replevin Bond – When defendant in an action is denied possession of the chattel by virtue of a Replevin proceeding, the defendant may reacquire the property by posting a bond.

In order to effectively assist you with a Counter Replevin Bond we will need you to provide us with the court order and the following information:

1. Name, address, and phone number of the attorney.
2. Complete title of action
3. Name and location of the Court.
4. Amount of the plaintiff’s or third party’s claim and nature thereof.
5. Value and description of the property to be replevied.
6. Amount of the undertaking required.
7. Name of sheriff.

In addition to providing the court order, please complete, sign, and return the attached Bond Application in the appropriate sections indicated.

Please note, Counter Replevin Bonds may require collateral.

Guardian Bond

A Guardian is appointed by the court to manage the property and sometime the person under the age of 21. The bond guarantees the fiduciary nature of the relationship.

Please attach a copy of the Court Order appointing the guardian. In order to effectively assist you with a Guardian Bond we will need you to provide us with the court order and the following information:

1. Name and address of guardian, indebtedness, if any to, and relationship to infant, and if guardian in prior possession of the assets in any capacity.
2. Name and address of infant and date of birth.
3. Amount of bond
4. Name and location of Court.
5. Name, address, and phone number of attorney representing the guardian.
6. Date and order of appointment.
7. Detailed description of assets and liabilities of the estate.

In addition to the court order, please complete, sign, and return the attached Bond Application in the sections indicated.

Receivers Bond in State Court

Receiver’s Bond in State Court - A receiver is appointed most often in foreclosure of mortgage litigation. The party who applies for the appointment must establish an interest in the real property.

In order to effectively assist you with a Receiver’s Bond we will need you to provide us with the court order and the following information:

1. Title of action
2. Name and location of Court.
3. Amount of bond.
4. Name, address, and occupation of receiver.
5. Name, address, and phone number of attorney.
6. Copy of order appointing receiver and outlining his duties.
7. Detailed description of assets and liabilities including any mortgaged premises.
8. Depository for the funds of the receivership
9. Bank or business references from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond Application in the sections indicated.

Receivers in Bankruptcy

A receiver is often appointed by the court to take over he property of an alleged bankrupt, during the time of the filing of the petition praying for his adjudication into bankruptcy. This application can be made by any creditor and will be granted by the court when iot appears that such appointment is necessary for the preservation of the bankrupt’s property. The duties are custodial in nature.

In order to effectively assist you with a Bond of Receivers in Bankruptcy we will need you to provide us with the court order and the following information:

1. Name, address, and phone number of attorney for receiver.
2. Name, address, and occupation of receiver.
3. Name of alleged bankrupt.
4. Amount of bond.
5. Name and location of court and date of appointment.
6. Bank or business references from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond Application in the sections indicated.

Third Party Claimant's Bond

Third Party Claimant's Bond: Where a person not originally party to an action intervenes in the action and seeks to obtain possession of property subject to the action, they must often post a third party claimant's bond. The third party is usually a secured lender with a perfected security interest in the property who intervenes to prevent the security from being sold to pay the borrower's debt to a general creditor.

Attach a copy of the court order to a completed and signed general bond application.

Indemnity to Sheriff Bond

Indemnity to Sheriff Bond: The sheriff is traditionally the officer of the court who serves any writ seizing or taking possession of property. The plaintiff customarily provides the sheriff with instructions on what property to seize. In several states, the sheriff is entitled to demand a bond to indemnify him or her should the defendant seek damages against the sheriff for seizing the wrong property or for other actions taken pursuant to an invalid writ.

Attach a copy of the court order to a completed and signed general bond application.