(844) 589-9732

New Mexico Personal Representative Bond

February 4, 2021

AmeriPro Surety Bonds offers the New Mexico personal representative bond in whatever amount set by the probate court. Up to a $250,000 surety bond requirement, we also typically do so without a credit check. Please call our agency today at:
844-589-9732.

New Mexico Personal Representative Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Surety Bond; Purpose and Amount

 

 

 

If you are reading this, it is likely that you have been conditionally appointed as a “personal representative”, executor, or administrator over an estate of a decedent.  

Your assumption of these duties is conditioned upon obtaining a surety bond in the amount that the New Mexico probate court orders.

According to New Mexico law, an estate that is valued at $7500 or greater; or an estate which has creditors claiming a debt against the estate for $7500 or more, is generally required to obtain a surety bond.

The surety bond is a financial guarantee of your compliance with all New Mexico laws and regulations concerning the administration of an estate.

The bond amount will likely be in the value of the personal property of the estate.  Also, the court may or may not add any amount that the estate is projected to earn within 12 months to the surety bond required.

For purposes of obtaining your surety bond, a personal representative/personal administrator/administrator or an executor are terms which can be used interchangeably.

 

 

 

Qualifying and the Premium

 

 

 

Our agency can provide you with the New Mexico personal representative bond in any amount required.

Up to a $250,000 surety bond requirement, we also typically do so without a credit check inquiry.

If you require a surety bond amount greater than $250,000, your application will be subject to further review by a surety bond underwriter.  This review will include a credit inquiry; and to be approved, good credit will be required. 

You may also be asked to provide supporting documentation and information as a condition of your approval.

In all instances, our agency will need the following from you:

  • A copy of the New Mexico court order appointing you personal representative/administrator/executor and which states the surety bond amount required of you;
  • A completed surety bond application.  The application can usually be sent to you via DocuSign.  This will allow for the application to be electronically completed, signed, and returned to our agency;
  • Review and approval of your completed application;
  • Payment of at least the first annual premium upon approval.

Our agency issues your personal representative surety bond upon payment of the premium.  Included with your surety bond will be a Power of Attorney form.

Upon receipt by mail, you’ll sign your surety bond as Principal, and you or legal counsel will file your bond and POA form with the respective court.

 

 

 

Annual Renewal of the Premium

 

 

 

The premium for your New Mexico personal representative bond will renew annually on the anniversary of your bond’s issuance for as long as the New Mexico probate court requires surety.

Premiums paid are nonrefundable, both in part or in whole.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency.  We provide license and permit, court, fiduciary, and other surety bonds in New Mexico and all 50 states.

Please call our agency today at:

844-589-9732

Or, you may fill out the form below and a Surety Agent will contact you...

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