How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TJ, Esq. Your Own Question
TJ, Esq.
TJ, Esq., Attorney
Category: Real Estate Law
Satisfied Customers: 11626
Experience:  JD, MBA
Type Your Real Estate Law Question Here...
TJ, Esq. is online now
A new question is answered every 9 seconds

Mom had no will, my siblings deceased, grandchildren signed

Customer Question

Mom had no will, my siblings deceased, grandchildren signed affidavits for me. I have requested Ltrs of Admin. Why would the Surrogate court clerk request a bond on a house that has a reverse mortgage?
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  TJ, Esq. replied 4 months ago.

Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to answer your legal questions.

The purpose of the bond is to ensure that the estate is administered correctly. In other words, if you do something wrong and a creditor or heir files a claim, then it will be paid from the bond. With regard to the reverse mortgage, it will ensure that the lender will be repaid if you sell the house.

Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.

Expert:  TJ, Esq. replied 4 months ago.

Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue. If not, then please remember to provide a positive rating to close out this question (and please remember that your positive rating is the only way that I'll get credit for helping you, so I greatly appreciate it). Thank you!

Related Real Estate Law Questions