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The bond names and is in favor of the party whom recorded the Lis Pendens (the plaintiff) and serves as protection to them if the filing of the Expungement of the Lis Pendens is found to be frivolous, improper, or in bad faith by the court and, as such, damaging to this party. The bond then is to protect the plaintiff against this.
This bond is required by the court to protect the other party against an improper, frivolous, or bad faith filing or the motion of expungement.
The bond is typically required by state law or statute or they’re ordered by the court.
The surety will charge premium annually on this bond for as long as it is in force. So, it’s in the best interest of the principal to show the bond, motion, or lis pendens has been discharged by the court. Do this well prior to the bond renewal date, if possible.
Contact The ProSure Group. As surety bond experts in business since 1993 in Florida, The ProSure Group has issued hundreds of Lis Pendens Bonds and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.
What you will need to submit to obtain a license: