What is a Court Bond? A court bond is the name of all surety bonds that a person(s) will need in the event of action through the court of law. The two main categories of court bonds are Judicial Bonds and Fiduciary Bonds.
Judicial Bonds are used in civil court proceedings. This bond protects the Plaintiff/Defendant from possible losses due to the court’s ruling. The Judicial Bond can be split into two categories: Plaintiff and Defendant.
Common Plaintiff bonds we write include Appeal bonds, Counter-Replevin bonds, and Release of Lien bonds.
Common Defendant bonds we write include Attachment bonds, Indemnity to Sheriff bonds, Injunction bonds, and Replevin bonds.
Fiduciary or Probate bonds are bonds required by individuals appointed by a court of law to care for another individual or another individual’s assets. The bond is to ensure that the court-appointed person manages and honestly handles the assets under their care, as well as fulfills the obligations and duties appointed to them by the court.
These bonds ensure that the court-appointed person fulfills his/her obligations and duties and does not mismanage or dishonestly handle assets. Like the judicial category, the fiduciary/probate category can be further separated into subcategories. These subcategories are Probate, Guardianship, or Trustee.
Probate Bonds: bonds required for fiduciaries that control and manage assets of a deceased individual. Common Probate bonds include Administrator Bonds, Personal Representative bonds, Executor of Court Bonds, or Estate of Court Bonds.
Guardianship Bonds: required for fiduciaries that control and manage the assets of a minor or incapacitated/incompetent person, otherwise known as a ward. Common types of this bond include Conservatorship Bonds and Custodian Bonds.
Trustee Bonds: bonds required of receivers and trustees by a court of law to manage the assets of a business or individual. Commons types of this bond include Receiver Bonds and Disbursing Agent Bonds.
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