Bond Definition For Law In Suffolk
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FAQ
When a judge announces no bond, the defendant isn't eligible for release from county jail through bail as the judge has not set a bail amount. Instead, the arrested person has to remain in custody until the case concludes or a judge potentially sets bail at a later hearing.
Although the Eighth Amendment protects against excessive bail, there is not an absolute right to bail, as noted in The Bail Reform Act, 18 USC Chapter 207. Section 3142 of the Act denies bail to certain defendants pending trial, specifically denying bail to defendants likely to flee or pose a danger to society.
The process of securing a property bond involves several steps, including: Property Valuation. The court requires an appraisal of the property to verify its value and ensure it meets the required equity threshold. Lien Placement. Legal Documentation. Court Approval. Defendant's Release.
There are three requirements for obtaining a Judicial Court Bond: Submit an application and signed indemnity agreement supplied by the surety broker/agent; Provide a copy of the court papers for the applicable action being filed; and. Provide collateral, usually in the form of an Irrevocable Letter of Credit.
While each state is different, California generally requires your personal representative to be bonded. The only exceptions are when the testator's will expressly waives the requirement (and the court permits this to happen) or all the beneficiaries will agree in writing to waive the bond requirement.
Executor bonds hold the executor of the estate accountable should the executor not fulfill their obligations. The bond protects against errors (even if they happen to be accidental), fraud, theft, or misconduct, as well as misrepresentation on the part of the executor.
In California, a probate bond (also known as a surety bond or fiduciary bond) plays a crucial role in the administration of estates. This bond serves as a safeguard, ensuring that executors and administrators fulfill their duties responsibly and in good faith.
Typically, assets not in a trust, joint titling, or having a beneficiary designation that adds up to $184,500 would have to go through a probate. Because US Savings Bonds are federal assets, they do not have to abide by the California Probate Code.
