The Maryland Nominal Bond of Personal Representative is a document required in the state of Maryland for a person to serve as a personal representative (or executor) of an estate. The purpose of the bond is to ensure that the personal representative will faithfully and properly administer the estate in accordance with the law and any applicable court orders. The Maryland Nominal Bond of Personal Representative is required by the state of Maryland to be filed with the Register of Wills in the county where the estate is being probated. The bond is usually set by the court at the time it appoints the personal representative. It is also known as a “probate bond” or “fiduciary bond”. There are two types of Maryland Nominal Bond of Personal Representative: a surety bond and a self-bond. A surety bond is a contractual agreement between the personal representative and an insurance company or bonding company. The insurance company or bonding company agrees to pay any losses that result from the personal representative's breach of fiduciary duty. A self-bond is a written promise from the personal representative to fulfill his/her duties as a personal representative. The Maryland Nominal Bond of Personal Representative is an important legal document that must be filed with the Register of Wills in order for a person to serve as a personal representative in the state of Maryland. It is used to guarantee that the personal representative will properly and faithfully administer the estate in accordance with the law and any applicable court orders.
Maryland Nominal Bond of Personal Representative
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How to fill out Maryland Nominal Bond Of Personal Representative?
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