Iowa Code 633.184 – Release of sureties before estate fully administered
Current as of: 2023 | Check for updates
|
Other versions
1.
Release for cause.
For good cause, the court may, before the estate is fully administered, order the release of the sureties of the fiduciary and require the fiduciary to furnish a new bond.
Terms Used In Iowa Code 633.184
- Clerk: means "clerk of the district court" in the county in which the matter is pending and includes the term "clerk of the probate court". See Iowa Code 633.3
- Court: means , when referring to a court of this state, the district court sitting in probate with jurisdiction of conservatorships and guardianships. See Iowa Code 633.701
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes personal representative, executor, administrator, guardian, conservator, and the trustee of any trust described in section 633. See Iowa Code 633.3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
2.
Extent of liability of original and new sureties.
The original sureties shall be liable for all breaches of the obligation of the bond up to the time of filing of the new bond and the approval thereof by the clerk, but not for acts and omissions of the fiduciary thereafter. The new bond shall bind the sureties thereon with respect to acts and omissions of the fiduciary from the time when the sureties on the original bond are no longer liable therefor.