Legal Question in Wills and Trusts in New Jersey

Signing refunding bond at time of sale

A rental property was distributed to my brother and me. My brother is the executor of the estate. We both signed a refunding bond and release at the time of distribution. We are now selling the property and the executor has informed me that when the property is sold I would have to sign another refunding bond and release. Why would I have to sign a second refunding bond and release? I asked the executor and he told me that if I did not, he would not release the funds. Can he do this?


Asked on 4/01/08, 11:51 am

1 Answer from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: Signing refunding bond at time of sale

I don't know why the executor would ever need a second refunding bond for the same property, especially if it was previously distributed to you.

My hunch is it is either a mistake, or perhaps you have not been given the entire story. Does the executor have an attorney helping him? If so, he or she should be contacted and should provide you with a clear explanation of what is going on here.

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Answered on 4/01/08, 11:58 am


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