Administration Bond (SECTION 291, INDIAN SUCCESSION ACT)

Administration Bond

(SECTION 291, INDIAN SUCCESSION ACT)

Know all men that we, RN, s/o Late DN r/o ………………….. and  KG s/o SN r/o ………………….. (surety for Mr. RN) bind ourselves jointly and severally  to Shri KN, ………………………. for payment to him or his successor in office of the sum of Rs……………………

We have  signed  this  bond on this……….day of……………..at …………….

                                                                        Signature………………………

                                                                                    Signature………………………

            Whereas by an order of the Court of  the said District  Judge, ………………, Mr. KN, made on the day of…………the said Mr. RN has been appointed administration  of the estate of DN, subject to the condition that said RN enter  into a bond of Rs………….with a surety  for the  same amount  for  the due collection, getting in and administration of the estate of the deceased.

            And whereas  the said Mr. RN has agreed to enter into the above mentioned bond  and the said KG has agreed to enter into  bond as security to Mr. RN.

            NOW THIS BOND WITNESSES AS UNDER :

            Now the condition of the above written bond is that if the said Mr. RN  do and shall within  six months form the date of granting of the letter of administration of   the estate of Late DN deceased, or such further time as the Court may grant, exhibit in the said  Court of the District  Judge  an inventory, complete in all respect, containing   a full  and true  estimate  of the estate of the deceased, and all credits and also all debts owing by any person to which RN is entitled as administration, and do and shall, within one year  form the date of the said grant, or such   further time, as he said court may appoint, exhibit an account  of the estate of  the said  Late DN (deceased), showing the assets which have come to his hands and the manner in which they have been applied or disposed of, and do and shall just and true administration, credits and estate according  to law, and  shall deliver and pay to such person or persons, as shall be lawfully entitled thereto, all the rest and residue of the property, credits and  estate which shall be found  remaining upon the said administration account, then the above written bond shall stand void but otherwise it shall remain in full force.

           

            We the above noted parties have signed this bond on this……….day of…………at Lucknow after fully understanding the contents of this bond in the presence of the following witnesses.

Witnesses:

1.         Name……………                                         Signature ………………

            Address…………                                                     Administrator

2.         Name……………                                         Signature ………………

            Address…………                                                     Surety