Court Bonds

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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