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Court and Probate

Probate bonds are bonds issued on the performance of an administrator or executor, and their purpose is to protect heirs and creditors from being harmed by the negligence or malfeasance of the administrator or executor.

When a person passes away, that person may have left a last will and testament which appoints an executor. The executor is a person who handles the administration of a last will and testament, including all property and asset distributions in accordance with the will. The process by which a will is filed with the court is called probate. In the event that a person dies without a will, the court will appoint an administrator to oversee the distribution of the property. In either instance, the court can require a probate bond to be filed by the executor or administrator. A probate bond is a type of financial instrument that is frequently required when a person is appointed as the executor of an estate.

Court bonds are a way to protect people or entities that are sued from any wrongful losses that occur as a result of court proceeding. Several types of lawsuits require a court to take some action before a final ruling is made, and these bonds help return the party being sued back to the position it was in before the court case started if the court determines it did nothing wrong. Some examples

Appeal Bond

An appeal bond is a guarantee from the losing party that it will pay damages if an appeal of the lower court’s judgment is not successful. The purpose of the appeal bond is to prevent losing parties from pursuing frivolous appeals. An appeal bond includes both the cost of damages and the estimated cost of the appeal.

Plaintiff’s Replevin Bond

A replevin bond is posted by the party that brings a lawsuit into court in a land-dispute case. One of the court’s first actions in such cases is to seize the property from the party being sued, and a replevin bond covers any costs to the party being sued if it’s determined that the land was wrongfully taken away during these proceedings. These costs include attorney fees and damages resulting from not being in possession of the land in question.

Removal Bond

A removal bond is posted to cover the costs that result from an improper transfer of a case to a court in another jurisdiction. Removal to another jurisdiction can be damaging because applicable laws can vary by jurisdiction; a party can win a lawsuit in one jurisdiction and lose the same lawsuit in another jurisdiction. Costs covered by a removal bond include attorney fees.

Injunction Bond

An injunction is an order from a court that stops a party from participating in a certain activity, and an injunction bond covers the damages suffered by this party if it is determined that it was wrongfully prevented from participating in the activity. The damages covered by the bond depend on the activity in question, but common damages include court costs and attorney fees.

McCue Captains is an independent insurance agency established in 1927.  We service clients primarily in New Jersey, but we are licensed in many other states as well.  Give us a call at 732-842-0444 to discuss your current needs or fill out the short contact information below and we will contact you.

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680 Branch Avenue
Little Silver NJ 07739
(732) 842-0444(p) - (732) 576-1865(F)
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