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A guardian is a fiduciary and is held to a very high standard of care in exercising their powers. If the ward owns substantial property, then the guardian may be required to give a surety bond to protect the ward in case dishonesty or incompetence on their part causes financial loss to the ward.
A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...
The court in many jurisdictions, especially states that as of 2012 prohibited surety bail bondsmen – Oregon, Nebraska, Wisconsin, Illinois, Kentucky and Maine [29] – may demand a certain amount of the total bail (typically 10%) be given to the court, which is known as surety on the bond and unlike with bail bondsmen, is returned if the ...
Express Homes sold the Kendale Lakes home on Southwest 138th Place for $695,000 in the summer of 2022 after renovations. It had purchased the property from the Guardianship Program for $430,000 in ...
A fiduciary, such as the administrator, executor or guardian of an estate, may be legally required to file with a probate court or judge a surety bond, called a fiduciary bond or probate bond, to guarantee faithful performance of his duties. [75]
At his first appearance in Miami federal court, he was granted a $14 million personal surety bond secured with his family’s assets. Polit, who also had to make a $100,000 deposit as part of the ...
It is an obligation of record, entered into before a court or magistrate duly authorized, whereby the party bound acknowledges (recognizes) that they owe a personal debt to the state. A recognizance is subject to a " defeasance "; that is, the obligation will be avoided if person bound does some particular act, such as appearing in court on a ...
1836 marriage bond of Edgar Allan Poe and Virginia Eliza Clemm Poe. A marriage bond was a type of surety bond guaranteeing that two people were legally available to marry each other, free of complications like being legally underage, [1] having too close a genetic relationship, [1] having other extant marriages, etc. [2] A marriage bond is legally distinct from a marriage license or a marriage ...
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