(a) Every bond taken on the sale of property under an order or decree in equity or on the sale of property under execution, and every stay bond and forthcoming bond shall be signed by the principal and sureties and attested by the person taking the bond or someone in his or her presence.
(b) A bond so taken shall be returned to the proper officer with the report of the acts of the person taking it and, if taken under execution, the latter must be returned with the bond.
(c) All such bonds shall have the force and effect of a judgment on which an execution may issue. The execution shall be endorsed to the effect that no surety of any kind is to be taken.
(d) The officer taking any of the bonds described in subsection (a) of this section and his or her sureties, or their representatives, shall be jointly and severally liable to the person injured for any damages he or she may sustain by the officer's failing to discharge his or her duty in the taking of the bond.
(e)
(1) If one (1) of several obligors or obligees in a bond having the force and effect of a judgment dies before the judgment is satisfied, execution may issue on the bond in the name of the surviving obligees against the obligors or the survivor.
(2) When all the obligees in a bond as specified in subdivision (e)(1) of this section die, their personal representatives may, if the bond is not satisfied, sue out execution thereon after its maturity against the obligors, or their personal representatives if all the obligors are dead, or if only some of the obligors are dead, against the survivor and the personal representatives of the deceased.
(f) When a bond having the force of a judgment is quashed, a new execution may issue on the original judgment at the instance of the plaintiff in the same manner as if that bond had never been given.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.