Everything You Need To Know About Conservatorship Bonds

what is a conservatorship bond

When an individual cannot manage their financial affairs, a Conservator might be appointed.

A Conservator is a court-appointed fiduciary who takes care of real estate, manages bank accounts, and handles investments for an individual who can no longer manage those on his/her own.

To ensure a Conservator follows through with their duties, the court might require the Conservator to get a Conservatorship Bond.

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What Is A Probate Bond?

what is a probate bond

What is Probate?

The term probate refers to a legal process that governs the distribution of a person’s assets upon their death. The probate process includes:

  • Finding the will and giving it to the probate court
  • Assembling all of the deceased’s property
  • Having the deceased’s property appraised
  • Paying any debts still owed by the deceased
  • Paying estate and property taxes
  • Paying for funeral arrangements
  • Distributing the deceased’s property

The probate process helps an individual transfer and disperse of assets in an orderly and supervised manner. One way to think about the probate process is that it acts as ‘the script’ for how things go after an individual passes away.

Want to learn more about the probate process? Check out this post on how the probate process works.

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What Are Rate Refunding Bonds?

what are rate refunding bonds

What is a Rate Refunding Bond?

A Rate Refunding Bond is a type of surety bond used by utility companies that are planning on increasing their rates.

Most of the time, utility companies need to get approval from the public in order to increase their rates. Sometimes, it is possible for a company to increase its rates before a final decision is made. To do this, the utility company would need to purchase a Rate Refunding Bond.

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What Is A Writ of Certiorari Bond?

what is a writ of certiorari bond

What is a Writ of Certiorari?

A writ of certiorari is a way to have a higher court review the outcome of a lower court’s proceedings. The word ‘certioari’ means “to be more fully informed”. In this sense, a writ of cetiorari orders a lower court to deliver its record in a case so the higher court may review it.

Often times, a writ of cetiorari is a last resort for a defendant to have his or her case reviewed when it does not qualify for an appeal.

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How Do Condemnation Bonds Work?

what is a condemnation bond

What is Condemnation of Property?

Condemnation is the process where private property is taken for public use. Condemnation can often be confused or interchanged with the term eminent domain, but this is incorrect. Eminent domain is defined as the power of the government to take private property for public use. Eminent domain is the power; condemnation is the process.

An example of condemnation of property is when private land is bought out to make way for a new highway. The private land becomes condemned so the highway can be built.

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