ORS 113.105
Bond for personal representative


(1)

Intentionally left blank —Ed.

(a)

Except as provided in subsections (2) to (5) of this section, the personal representative may not act, and letters may not be issued to the personal representative, until the personal representative provides a bond to the clerk of the court in an amount set by the court. The bond must be for the security and benefit of all interested persons and must be conditioned upon the personal representative faithfully performing the duties of the position. The bond must be executed by a surety qualified under ORCP 82 D to G.

(b)

The amount of the bond set by the court under this subsection must be adequate to protect interested persons. In setting the amount of the bond, the court shall consider:

(A)

The nature, liquidity and apparent value of the assets of the estate.

(B)

The anticipated income during administration.

(C)

The probable indebtedness and taxes.

(2)

Subsection (1) of this section does not apply if:

(a)

The will provides that no bond is required, but the court may, for good cause, require a bond notwithstanding any provision in a will that no bond is required;

(b)

The personal representative is the sole heir or devisee, but the court may, for good cause, require a bond notwithstanding the fact that the personal representative is the sole heir or devisee;

(c)

The personal representative is the State Treasurer, the Department of Veterans’ Affairs, the Director of Human Services, the Director of the Oregon Health Authority or a person approved under ORS 113.085 (Preference in appointing personal representative) or 113.086 (Approval of attorneys who are eligible to be personal representative for decedent who received Medicaid or other public assistance); or

(d)

The petition for appointment of the personal representative states that no assets of the estate are known to the petitioner.

(3)

If no bond was required under subsection (2)(d) of this section and assets of the estate later come into the possession or knowledge of the personal representative, the personal representative shall, within 30 days after filing the inventory or supplemental inventory first showing assets of the estate, file a motion to set or waive the bond as provided in this section.

(4)

Upon a request by the personal representative, the court may waive the requirement of a bond if:

(a)

The request states the reasons why the waiver is requested; and

(b)

The request describes the known creditors of the estate.

(5)

The court may waive or reduce the requirement of a bond to the extent that:

(a)

The personal representative provides written confirmation from a financial institution that property of the estate is held by the financial institution subject to withdrawal only on order of the court; or

(b)

The court restricts the sale, encumbrance or other disposition of property of the estate without prior court approval.

(6)

Nothing in this section affects the provisions of ORS 709.240 (Oath and bond exemption for trust company appointed as fiduciary), relating to a trust company acting as personal representative. [1969 c.591 §90; 1971 c.421 §2; 1973 c.369 §1; 1973 c.797 §425; 1989 c.682 §1; 2001 c.900 §16; 2003 c.395 §13; 2005 c.625 §72; 2009 c.595 §77; 2009 c.828 §8; 2017 c.169 §15; 2019 c.414 §2; 2019 c.678 §35]

Source: Section 113.105 — Bond for personal representative, https://www.­oregonlegislature.­gov/bills_laws/ors/ors113.­html.

113.005
Special administrators
113.007
Exceptions to bond requirement for special administrator
113.015
Venue
113.025
Proceedings commenced in more than one county
113.027
Limitation on admission of will to probate
113.035
Petition for appointment of personal representative and probate of will
113.038
Request for different method of compensation of personal representative
113.045
Information of escheat to State Treasurer
113.055
Testimony of attesting witnesses to will
113.065
Establishing foreign wills
113.075
Will contest
113.085
Preference in appointing personal representative
113.086
Approval of attorneys who are eligible to be personal representative for decedent who received Medicaid or other public assistance
113.087
Effect of accepting appointment as personal representative
113.092
Convicted felon as nominated personal representative
113.095
Persons not qualified to act as personal representatives
113.105
Bond for personal representative
113.115
Increasing, reducing or requiring new bond
113.125
Letters testamentary or of administration
113.135
Designation of attorney to be filed
113.145
Information to devisees, heirs, interested persons, Department of Human Services and Oregon Health Authority
113.155
Publication of notice to interested persons
113.165
Filing inventory and evaluation
113.175
Property discovered after inventory filed
113.185
Appraisal
113.195
Removal of personal representative
113.205
Powers of surviving personal representative
113.215
Appointment of successor personal representative
113.225
Notice to interested persons by successor personal representative
113.235
Appointment of estate administrators by State Treasurer
113.238
Requirements and prohibitions related to certain decedents who die intestate and without heirs
113.242
Authority of estate administrator
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