The Importance of a Court and Fiduciary Bond

A court & fiduciary bond legally transfers the ownership of a property to a fiduciary temporarily.This is the most common type of court bond that serves as a transfer of ownership. This bond is necessary before a caretaker can manage a property until the actual owner returns. This ensures that the process is legal, transparent, and does not affect the rights that the owner has to their property in any way.

Quick facts about a court and fiduciary bond

• Personal credit score of the fiduciary and other parties included can determine the value of a fiduciary bond
• A fiduciary can manage a property on the behalf of the owner but is not authorized to sell any part of the property
• The fiduciary can make decisions for managing the property according to the agreement
• A fiduciary can be an individual, a group of people, a company, or even a bank

The rights of the property are transferred back to the owner upon his or her return, once the legal heir is of age, or when the conditions outlined in the bond have been met