Order Refunding Bond
Definition and meaning
An Order Refunding Bond is a legal document issued by a court that allows for the return of a cash bond deposited by a defendant. This bond is typically required to secure the defendant's compliance with court orders. The order signifies that the court has resolved the underlying issues related to the bond and permits the release of the funds back to the defendant or their attorney.
How to complete a form
To complete the Order Refunding Bond, follow these steps:
- Begin with the court name and county where the case is filed.
- Clearly state the names of the plaintiff and defendant as they appear in the case.
- Write down the case number assigned by the court.
- Detail the request for a refund of the cash bond and include the names of the individuals to whom the bond should be refunded.
- Leave a space to input the date when the order is issued.
- Ensure a signature line for the Circuit Judge.
- Include a section for the District Attorney's approval.
Who should use this form
This form is generally used by defendants who have posted a cash bond in a legal case. It is applicable when the legal issues prompting the bond have been resolved, either through a court ruling or settlement. Attorneys representing defendants may also complete this form on behalf of their clients to facilitate the bond refund process.
Key components of the form
The essential components of the Order Refunding Bond include:
- Court Details: Name of the court and county.
- Case Information: Names of involved parties and the case number.
- Refund Details: Names of individuals receiving the bond refund.
- Judge's Signature: Necessary for the validity of the order.
- District Attorney's Approval: Indicates compliance and formal agreement.
Common mistakes to avoid when using this form
To ensure the process goes smoothly, avoid these common mistakes:
- Failing to include the correct case number.
- Omitting required signatures from the judge or District Attorney.
- Not providing accurate names for the individuals receiving the refund.
- Submitting the form without checking for typos or incomplete information.
Form popularity
FAQ
Refunded bonds maintain a cash amount held aside by the original issuer of the debt to repay its principal. A refunded bond will use a sinking fund to hold in escrow the principal amount, making these bonds less risky to investors.
Under Probate Code section 16004.5, a Trustee cannot require a beneficiary to sign a release in exchange for making a distribution of Trust assets, provided that the Trust distribution is required to be made as stated in the Trust document.
The Refunding Bond and Release has a dual purpose:Refunding To refund to the Executor or Administrator out of his/her share of the estate his ratable part of any unpaid debts, owed by the testator or intestate, if there are no other assets to pay them.
Transitive verb. 1 : to give or put back. 2 : to return (money) in restitution, repayment, or balancing of accounts. refund.
Re·fundA·ed, reA·fundA·ing, reA·funds. To give back, especially money; return or repay: refunded the purchase price. To make repayment. n. ( r01132032f016dnd2032)
Explain the difference between calling a bond and a bond refunding.The freely call provision, the bond can be called anytime before its maturity and will be redeemed by the issuer. Whereas, the deferred call provision allows redeeming the bond only after some fixed period.
Any creditor who wishes to make a claim against the estate's assets must do so within 9 months under New Jersey law. The 9 months begins on the date of debtor's death. The executor/personal representative cannot distribute assets to beneficiaries until all claims are satisfied.
A pre-refunding bond is a debt security that is issued in order to fund a callable bond. With a pre-refunding bond, the issuer decides to exercise its right to buy its bonds back before the scheduled maturity date.
