Administration Bond under section 291 Of The Indian Succession Act
Administration Bond under section 291 Of The Indian Succession Act Deed Format
Know all men by these presents we, AB son of etc. (administrator) and CD son of, etc., (surety), are held and jointly and severally bound to EF the ………… Judge, etc., in the sum of Rs. …………… only, of lawful good money to be paid to the said Judge, or to his successor in office, for which payment to be truly and lawfully made, we do hereby bind ourselves, and each of us and also our respective heirs, executors, administrators or assigns firmly by these presents for the whole of the amount.
Whereas by an order of the Court of ………… Judge, etc., made on the ………… day of ………… under section 290 of the Indian Succession Act, the above-named AB has been appointed administrator of the estate of GH (deceased), subject to his furnishing security by execution of a bond of Rs. …………, with one surety: And whereas the said CD has agreed to stand surety for the said AB and was approved by the court subject to his entering into the above-written bond as surety for the said AB: Now the condition of this bond or obligation is such that, if the said AB, do and shall, within six months from the grant to him of letters of administration of the estate of GH deceased, or such further time as the said court may allow, do make or cause to be made a full and true inventory containing a full and true estimate of all the property, assets and credits of the estate which have or shall come in his hands, possession or to his knowledge in course of administration and also all the debts and outstandings due and payable by the estate and exhibit the same in the said court and do and shall, within one year from the said grant or such further time as the said court may allow, exhibit an account of the estate of the said deceased, showing the assets which have come to his hands and the manner in which they have been applied, appropriated or disposed of, and do and shall well and truly administer the property, assets and credits of the deceased according to law, and all and every the rest and residue of the said property, credits and estate, which shall be found remaining and shall assent to and deliver and pay to such person or persons as shall be lawfully entitled thereto, then and in such an event the above-written bond or obligation shall be void and of no effect, otherwise the same shall remain in full force and virtue.
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