Which Delaware Probate Bond Do You Need?

November 9, 2017 by · Leave a Comment 

Understanding how to benefit from a Delaware probate bond can make the experience positive instead of burdensome. Probate bonds are a type of surety bond mandated by the state and/or courts. The only way to have the requirement waived is through written exemption or court order. If you need a probate bond in Delaware, the best thing to do is to act now. Don’t delay and end up faced with fines or legal trouble. Delaware probate bonds don’t have to be that complicated.

Types of Delaware Probate Bonds

Probate bonds are one of the most commonly used types of surety bonds in the state of Delaware. The state requires probate bonds because it seeks to protect its residents from the wrongful actions of those entrusted with their estate, lives.

Among the most commonly used Delaware probate bonds are personal representative surety bonds, custodian of veteran surety bonds, and trustee surety bonds. A personal representative surety bond, often referred to as an administrator bond, has that task of overseeing a will after someone’s death. Just from emotion alone, one can imagine the difficulty of the task. The state doesn’t want that difficulty to lead to wrongful action, so they cover the value of the estate with a surety bond.

Similar actions are taken in a custodian of veteran bond. The men and women who serve deserve to be taken care of, everyone does. This Delaware probate bond is specific to veterans since veterans typically bank with service banks and seek medical treatment through government military hospitals. These special circumstances can leave veterans in a vulnerable position. A custodial of veteran bond is a probate bond that provides quick recourse and protection for the veteran.

Meeting Bond Requirements

Each surety bond is designed for a specific purpose preventing the use of a trustee bond in a mortgage broker business, for example. It is imperative that the right Delaware surety bond is secured and for the proper amount and duration of time.

Surety bond experts understand how to meet all the bond requirements from value to deadlines. Letting a Delaware probate bond professional handle securing the surety bond is the fastest way of getting it right.

Delaware Surety Bond Rates

Another perk of working with a Delaware probate bond expert is receiving a low surety bond rate. Being a nationwide surety bond company Jurisco has the resources to deliver expert service and the lowest surety bond rate possible. By keeping bond prices low Jurisco makes the surety bond process even better.

Want to learn more about low surety bond rates in Delaware? Let the bond experts at Jurisco help you have a low rate, full bond protection, and a great experience. Contact Jurisco today with any questions you may have about a Delaware probate bond.

 

Lis Pendens Bond in Delaware

April 9, 2013 by · Leave a Comment 

Lis Pendens Bond in DelawareLis Pendens Bond in Delaware affects all types of property, even those in foreclosure proceedings. The amount of houses affected by lis pendens has grown so much that ForeclosureData.com has a page dedicated solely to lis pendens listings in Delaware. So why and how does lis pendens affect the sale of a property? Today that’s what we will discuss. As always, if you have something you’d like to add to the conversation leave a comment below or send us an email.

What is Lis Pendens Bond?

Latin for “suit pending” lis pendens secures a plaintiff’s right to specific real property. For instance, if a defendant is selling a house in Brandywine, DE and the plaintiff believes he or she has a right to that property (or to a portion of the proceeds from the sale) they would use a lis pendens to block the sale of the property.

Lis Pendens Bond Requirements

Anyone can file a lis pendens against real property without a bond, however if the defendant feels the lien is wrongful they may demand that the plaintiff post a bond. The court recognizes the plaintiff’s right to protect their interest, but that doesn’t overshadow the defendant’s rights. lis pendens bond in Delaware requires all plaintiffs to use to cover any type of financial loss the defendant may face should the lis pendens be deemed unlawful or wrongful.

The bond proves to the court that the plaintiff is not filing the lis pendens in bad faith. Once the bond is approved then the property holder, as well as those involved in the selling/buying process, will be notified of the lis pendens action.

Here’s a look at statue concerning lis pendens bond in Delaware (please note that mandates may differ within the state so please ask your Jurisco bonding expert about your particular area be it Dover, Greater Newark or Wilmington, DE):

(a) In any action instituted in any court of this State having civil jurisdiction or in the United States District Court for the District of Delaware, any party asserting a claim, the object of which is to affect the title to, or enforce an equitable lien on, real estate may, after filing of such claim, file in the office of the recorder of deeds of any county in which all or any part of the affected real estate is situate a written notice of the pendency of the action, which shall be under oath, and shall set forth:

(1) The court in which the action was brought, the caption of the action and the civil action number;

(2) The object of the action or the affirmative relief sought;

(3) A legal description sufficient to identify the property affected; and

(4) A designation of the names of each party against whom the notice is directed to be indexed.

(b) No notice of pendency shall be filed under this chapter:

(1) On a claim relating to real estate which, if sustained, would entitle the party to recovery solely of money or money damages; or

(2) To enforce a mechanic’s lien or to foreclose upon a mortgage at law, which actions shall continue to be governed by the notice procedures of this Code specifically applicable thereto.

67 Del. Laws, c. 59, § 1.;

To learn more about Lis Pendens Bond in Delaware and its associated cost please contact Jurisco today.

 
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