We are clsoing on my mom house,my sister said that we should pay some type of bond ,so money doesnt tie up?

Question

I am confused what type of bond is she talking about, she said she doesnt know if this come out of our pocket or from the sale of he house. Does anyone know what she is talking about.My mom is deceases so the house is to be spilt 3 kids ,my sister confuses me so much.She said if we dint get this bond which cost 300 and something then the sale from the house the money can be tied up to a year,

Answer 1

This sounds like some sort of "performance bond". A performance bond is a guarantee that a promised transaction will take place. They are common in the construction business, but are not required in my state for real estate transactions. Real estate and probate laws differ from state to state. You might want to call the probate attormey that is handling the estate for your sister and ask him or her for an explanation.

Good luck with your problem and sorry about your loss.