Rhode Island Real Estate Conservator Bond Guide
If you’re acting as a conservator or guardian for real estate in Rhode Island, you may need this surety bond.
Bond Overview
- Purpose: To ensure real estate conservators uphold obligations and handle assets responsibly
- Who Needs It: Guardians or conservators responsible for the sale or mortgage of real estate
- Regulating Body: The county probate court
- Required Coverage: $1,000–$100,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Rhode Island Sale or Mortgage of Real Estate Conservator Bond?
A Rhode Island sale or mortgage of real estate by guardian or conservator bond ensures that either the estate or last will and testament of a deceased person will be sold/mortgaged properly.
If funds are handled improperly or the will is not carried out, the conservator is financially liable up to the bond amount.
How Much Do Sale or Mortgage of Real Estate Bonds Cost?
Rhode Island sale or mortgage of real estate by guardian or conservator bonds cost a small percentage of the coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Real Estate Conservator/Administrator Bond?
Rhode Island county probate courts may require this bond for the following court-appointed fiduciaries involved in distributing an estate or last will and testament:
- Guardians
- Conservators
- Executors
- Administrators
The bond ensures the proper sale or mortgage of estates and handling of funds.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Rhode Island sale or mortgage of real estate by guardian or conservator bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the county probate court as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Rhode Island Sale or Mortgage of Real Estate Bond Work?
A sale or mortgage of real estate by guardian or conservator bond creates a legal contract between these three parties:
- Principal: You, the real estate guardians or conservator filing the bond
- Obligee: The county probate court requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the deceased person’s will and/or court orders.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your sale or mortgage of real estate by guardian or conservator bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
