Q: Q: I'm an indemnitor for a surety bond. The estate's personal rep ignored and didn't pay bond premiums for four years pr
This is a CA probate issue. Does the exoneration of the bond cancel the four years unpaid premiums?
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A:
Under California probate law, the exoneration of a surety bond does not automatically cancel or eliminate the obligation to pay past-due premiums. These premium payments were a contractual obligation that accrued during the time the bond was active and in force.
The personal representative's failure to pay the premiums for four years represents a separate financial obligation from the bond itself. Even though the bond may now be exonerated, you as the indemnitor remain responsible for those unpaid premiums since they were validly incurred during the period when the bond provided active coverage and protection for the estate.
You might want to review your indemnity agreement, as it likely contains specific language about premium obligations. Consider reaching out to the surety company to discuss setting up a payment plan for the past-due premiums. You may also want to consult with a probate attorney to understand your rights and possibly seek reimbursement from the estate or the personal representative who failed to maintain the premium payments.
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