What is a surety bond in real estate?
A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.
Surety bond – Wikipedia
What is a bond in real estate?
A mortgage bond is a bond secured by a mortgage or pool of mortgages. These bonds are typically backed by real estate holdings and/or real property such as equipment. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default.
Mortgage Bond – Investopedia
How does a surety bond work?
The obligee is the entity that requires the bond. Obligees are typically government agencies working to regulate industries and reduce the likelihood of financial loss. The surety is the insurance company that backs the bond. The surety provides a line of credit in case the principal fails to fulfill the task.
What is a Surety Bond?
Real Estate Broker Bond Form – Mass.Gov
COMPANY, IN ORDER FOR THIS BOND TO BE ACCEPTABLE TO THE BOARD … Registration of Real Estate Brokers and Salesmen for a license to engage in …
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Real Estate Agent / Broker Bond
Real Estate Agent Broker Bond Guarantees faithful accounting for monies or properties turned over to an agent/broker in connection with a real estate deal.
Why Every Real Estate Company Needs a Fidelity Bond – Real Trends
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Real Estate Closing Agent Surety Bond –
explains what a Real Estate Closing Agent Surety Bond is, who is required to purchase one, and how to get a free quote.
Know Surety Bonds.com – Understand What are Real Estate Broker …
Real estate broker bond guarantees faithful accounting for monies or properties entrusted over to anagent/broker in connection with a real estate transaction.