Definition of "Administration bond"

Michelle Riddick real estate agent

Written by

Michelle Riddickelite badge icon

TriStar Realty Inc

Coverage that guarantees that the executor or administrator of an estate will conduct his or her duties according to the provisions of the will and the legal requirements of the jurisdiction. If dishonest acts by the executor or administrator result in financial loss to the estate, the bond will act as an indemnitor to the estate. This bond is posted by the executor or administrator of the estate.

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