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Want clarity to calculate the percentage of the administration bond
22-Feb-2023 (In Property Law)
Dear Sir, The value of my property was 1.5 Crores in 2012, now judgment is passed in my favor, but as per direction letter of administration is allowed in my name, but after filing appropriate stamp /court fees, furnish administration bond. Since I don't have any amount mention as how much administration bond need to furnish i need clarity how to calculate the percentage of the administration bond or it is equivalent to the value of the property in 2012.
"An administration bond shall be in Form No.9 as per the Rules Governing Probate and Administration Matters, 1964. The Registrar shall, subject to the approval of the Court, determine the actual amount of security to be given and may examine the proposed sureties as to their properties and liabilities and for this purpose may direct notice to issue to the proposed sureties and adjourn the further hearing of the application to a fixed day by passing and order in Form No. 10.
The proposed administrator and his sureties when approved by the Court, shall execute the administration bond before the Registrar or other officer authorized to take affidavits. The bond shall be filed in Court not less than three days before the adjourned hearing. Feel free to get in touch with the LawRato team at 9599-000-555 for further assistance."
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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