What Is A Discharge Of Mechanic’s Lien Bond?

what is a discharge of mechanics lien bond

Mechanic’s liens are issues in favor of builders, contractors, subcontractors, or supplies who have furnished labor or materials for construction or improvement of a property.

If builders, contractors, and suppliers have not been paid, they can file a mechanic’s lien on the property as a method to ensure they get paid for their services and materials. 

A mechanic’s lien attaches to the land and building. When a mechanic’s lien is issued, the property owner cannot do anything with the land or property.

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What Is A Bail Bond & How Do They Work?

what is a bail bond

We’ve all heard on the news, “So-and-so has been released on $50,000 bail.” But what does this really mean? What is a bail? How does it differ from a Bail Bond?

When someone is arrested for a crime, they are held in jail until their court date, until the judge decides to let them go on their own recognizance, or until they are released on bail. 

*Please note that we (Surety Solutions) do not offer Bail Bonds. This post is meant to be an informational post.*

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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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