• December 4, 2018

5 Court Bonds and What They Do

5 Court Bonds and What They Do

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Court bonds are a category of surety bonds that are generally required by the courts when a party is pursuing some type of action regarding to their case. While court bonds do not ensure a party will (or will not) take a certain action, these types of bonds do provide some financial recompense should the party not do as they are instructed.

There are many different types of court bonds. These are some of the most common.

Injunction Bonds

An injunction is a judicial order that compels a person to carry out a certain act or, in some cases, compels them not to do something. Whether these injunctions are temporary, permanent or preliminary, the courts will usually require a bond to be procured. Injunction bonds provide security to the adverse party that the injunction is placed against. If the injunction is found to be unwarranted, the bond provides some financial recourse.

Replevin Bonds

Replevin is a legal action that is taken to recover property that was alleged to be wrongfully taken or detained. Like injunctions, replevin usually requires that a surety bond be obtained. Replevin bonds will provide financial recompense if the property is not returned.

Bonds Before Judgement

A bond before judgement allows the winning party of a case to begin collecting the judgment they were awarded before the bond is officially posted. These are often used when the responsible party has ignored a judgement that has been made against them.

Conservatorships, Guardianships, Trusts and Personal Representative Bonds

When a person takes on the role of a conservator, guardian or personal representative, or is appointed to administer a trust, they may be required to secure a surety bond that corresponds to their case. These types of bonds provide financial protection for vulnerable people or trustees in the event that fraud or financial mismanagement takes place.

Probate Bonds

Probate is the legal process that determines the method of distributing a person’s assets after they have passed away. Also known as fiduciary bonds, probate bonds offer protection during the distribution of assets, and will provide recompense if fraud or mismanagement take place.

 

Looking for a court bond for your case? Get in touch with The Patrick J. Thomas Agency today.

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Disclaimer: this is for informational purposes only and is not intended to be legal advice. If you need legal counsel, please contact an attorney directly.