Legal Question in Disability Law in Virginia

what does " herein designated as the Obligee in the sum of $47,300" mean in a Refunding Bond and Release if I am the obligor?


Asked on 3/05/11, 1:17 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Probably, that you (as obligor) unconditionally agree to return to the obligee (the executor/administrator) of the decedent's estate the sum of $47,300 which you have inherited and which has been (or will be) distributed to you should such become necessary to pay the debts owed by this estate.

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Answered on 3/05/11, 1:50 pm


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