Locksley12
Junior Member
New Jersey
About three years ago me and my two brothers received two pieces of rental real estate properties. One of my brothers is the executor of the estate. We put these two properties into an S Corp. each one of us owns 50% of the S. Corp. At the time of distribution of the preperties we signed a Refunding Bond and Release. Two years ago we sold one of the properties and the other property is for sale. I recently received a letter from an attorney asking me to sign a refunding bond and release for the property tha sold two years ago and he also stated that I would have to sign a refunding bond and release when the second property sells. Me and my brother do not get along and his ethics as an executor is in question. If I signed a refunding bond and release when I received the properties three years ago and they went into an S Corp. why do I have to sign another one? Further, why would I have to sign a refunding bond and release when the current property that is for sale finally sells? What happens if I do not sign the refunding bond and release? Can I just sign a Refunding Bond and not a release?
About three years ago me and my two brothers received two pieces of rental real estate properties. One of my brothers is the executor of the estate. We put these two properties into an S Corp. each one of us owns 50% of the S. Corp. At the time of distribution of the preperties we signed a Refunding Bond and Release. Two years ago we sold one of the properties and the other property is for sale. I recently received a letter from an attorney asking me to sign a refunding bond and release for the property tha sold two years ago and he also stated that I would have to sign a refunding bond and release when the second property sells. Me and my brother do not get along and his ethics as an executor is in question. If I signed a refunding bond and release when I received the properties three years ago and they went into an S Corp. why do I have to sign another one? Further, why would I have to sign a refunding bond and release when the current property that is for sale finally sells? What happens if I do not sign the refunding bond and release? Can I just sign a Refunding Bond and not a release?