Bond For Sale Or Mortgage Of Real Estate - Surety {CCP 0361}

CCP 0361 - BOND FOR SALE OR MORTGAGE OF REAL ESTATE - SURETY. This form is used in the Probate Division of the Circuit Court of Cook County, Illinois, when a court-appointed representative seeks to sell or mortgage real estate that is part of a decedent’s estate. This form serves as a legal guarantee that the representative will properly manage and distribute the proceeds from the sale or mortgage of the specified property, which is described by address and legal description on an attached exhibit. The bond is a financial obligation, backed by the representative and a licensed surety company (or companies), ensuring that the estate’s assets are handled responsibly. The bond amount is limited to a specific dollar value, which reflects the estimated value of the transaction. Both the representative and the surety company must sign the form, and the surety company must be authorized by the Illinois Department of Insurance and approved by the Chief Judge of the Circuit Court. www.FormsWorkflow.com