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Court Bond Information
JUDICIAL COURT BONDS
Filed by litigants in court actions to permit them to pursue remedies at law.
Separated into two groups: Plaintiffs and Defendants
Defendant bonds are generally written with collateral
Court bonds cannot be cancelled
FIDUCIARY COURT BONDS
Required of a person appointed by court to handle the affairs of those who are unable to manage their own affairs.
Administrator/executor handles assets/debts of a deceased estate
Guardian or conservator handles the affairs of a minor or incompetent adult
The receiver or trustee is appointed by court for those in financial difficulties or legally bankrupt