Real estate can often become involved in surety bond issues. Bond real estate can be complicated which is why Jurisco works with clients to make it as simple as possible. Whether real estate gets tied up in a guardian’s duty, a lien due to nonpayment, or when the sale of a property is attempted to be blocked a surety bond needs to be right to work.
Investing in real estate can be profitable. However, it can also be very costly if a property gets tied up in legal issues. Jurisco wants to help people understand the different types of surety bonds that can help and affect real estate. Following is a brief description of common bonds. Don’t see what you’re after? Contact us to talk more in depth.
A common type of bond for real estate is the lis pendens bond. A lis pendens bond is a surety bond that blocks the sale of property. This can happen when a couple divorces, when a lien is placed on a property, or even when taxes are owed on a property. A lis pendens bond halts the sale 0f a property to give the court time to resolve the issue.
Another surety bond for real estate is a release of lien bond. Liens are typically placed on a property over non-payment disputes. Construction companies, for example, can put a lien on a property if they do not receive payment for work completed or materials bought. Property liens can be detrimental as it ties up property in legal disputes. A release of lien bond replaces the lien with a surety bond.
Real estate can be tied up in surety bonds that do not specifically mention property. A guardianship bond or curator bond are good examples of this. Since a guardian is in charge of an estate, a surety bond may be required to help protect the property against any mishandling of funds. It all depends on the type of estate, range of guardianship bond, and current legal issues.
Jurisco deals with surety bonds in every state. A team of surety bond experts works with clients to make sure they understand their state’s requirements and how they can get the most out of a bond real estate surety.
It’s always important to know what states and local jurisdictions require. That’s why Jurisco takes the time to stay on top of surety bond changes at the state level. Contact us today to learn more about bond real estate issues and how a surety bond can help your situation.