Daily Law post: Drafting Administration Bond

Administration Bond.—(1) Every person to whom any grant of letters of Administration (creed not probate) other than a grant under Section 241 of the Indian Succession Act, is committed, shall give a bond to the District Judge with one or more surety or sureties, engaging for the due collection, getting in and administering the estate of the deceased. The bond shall be in such form as the judge may, by general or special order, direct.

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(2) When the deceased was a Hindu, Muhammadan, Buddhist, Sikh or Jain or an exempted person—

(a) the exception made by sub-section (1) in respect of a grant under Section 241 of the Indian Succession Act shall not operate.
(b) The District Judge may demand a like bond from any person to whom a probate is granted.

(Section 291 of the Indian Succession Act).

Stamp-duty.—Stamp-duty is payable on Administration bond under Article 2 of Schedule I of the Indian Stamp Act, 1899.

PRECEDENT

We, A.B. resident of....................in whose favour the grant of letter of administration has been made C.D. resident of.................... (first surety) and E.F. resident of.................. (Second surety) are bound unto Shri M.N. the Judge if the District Court ....................and to his successors in the sum of rupees....................to be paid to the said judge (or the judge of the said court) for which payment we find ourselves and each of us and two of any of us and the heirs, executors and administrators of us and of each of us and of any two of us jointly, severally and respectively.

Dated the .............................................day of……………………………………………......
20…………………………………

The engagement of this bond is such that if the above-named ....................A.B. the person appointed by the above-named Sri M.N. Judge under the Indian Succession Act, 1925 to be the administrator of the estate of the deceased K.L., resident of.........................................................who
died on....................do make a true inventory of all the estate of the said deceased which has or shall come to his possession power or knowledge and also exhibit the same into the said Court on or before the.............the day of.................20 ..... and the same estate and all other estates of the said deceased at the time of his death which at any time after shall come into the possession or power of the said A.B. do administer according to law, do pay the debts which he owed at his .decease and further also render a true account of his said administration whenever by law required to do so and all the residue of the said estate, do pay unto such person or persons as shall be entitled thereto under the said Act; if it shall hereafter appear that any last will was made by the said deceased and the executor or other persons named therein do exhibit the same in the said Court, if the said A.B. being required, do render and deliver the said letter of administration in the said Court, then this obligation to be void or else to remain in full force.
Sd. A.B.
Witnesses: — ADMINISTRATOR

1.                                                                                             Sd. CD. (First Surety)
   

2.                                                                                           Sd. E.F. (Second Surety)