Michigan property & business receiver bonds.
Quote on review.
When a Michigan circuit court puts you in charge of property or a business, this bond guarantees you’ll manage, account for, and hand back what the court placed in your hands. The court fixes the penalty, and a surety specialist underwrites the bond and returns a quote, usually within one business day.
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How much does a Michigan property & business receiver bond cost?
It is underwritten. The carrier’s base rate is 1% of the bond amount; the underwriter sets your premium from the amount, your credit and any collateral.
Built for the order of appointment.
The order that appoints you also provides for your bond, and you generally can’t take possession of the property or open the books until it’s filed. Here is the whole process:
Send us the file
Apply online with the case caption — plaintiff, defendant, case number, and the court that will hold the bond — plus a description of the property or business going into receivership and what it is worth.
A surety specialist underwrites it
A specialist reviews the order, the receiver’s credit and finances, and any collateral, then returns a quote. The penalty is fixed by the court — underwriting decides approval and collateral, not the amount.
Execute & file
Once you bind, we issue the executed bond in favor of the appointing court with the power of attorney attached, ready to file and be approved so you can take possession and start managing.
How a receiver bond works, and what to have ready.
Why the court asks for it
A court has appointed you as receiver, or as a master or referee, to take charge of property or a business while a case is decided. The court requires a bond before you take control.
Who it protects
The parties to the case and the court. If you fail to carry out the court's orders faithfully, they can recover the loss from the bond, up to the bond amount.
If there is a claim
The surety pays a valid claim and you repay the surety.
Have these ready
- The order appointing you, with the bond amount
- The court, case number and the parties' names
- A description and estimated value of the property or business you will control
- A short summary of your experience as a receiver or fiduciary
- Your attorney's name and contact details
What it is and who needs it.
Managing a business is a different job than holding an asset
Some receiverships are custodial — you hold a fund, you sell an asset, you distribute. This one is operational. A Michigan circuit court appoints a receiver to manage property or run a business that is caught up in a lawsuit: collecting rents, making payroll, paying vendors, keeping a going concern alive while the parties fight it out.
That is why the bond exists. Under MCL 600.2926 the receiver is charged with the estate as trustee for the benefit of the debtor, creditors, and others interested — every one of whom is relying on you not to mismanage it. The bond answers to them if you do, and the surety then looks to you to repay it.
Because the surety stands behind an operating estate rather than a static one, this bond is underwritten on the receiver’s credit, finances, and experience, and a large property or business can require collateral. We tell you what your specific file needs before you commit.
You need this bond if you’re
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
Term and renewal are set in the underwriter's quote.
Keep the bond in force for as long as the obligation behind it runs.
How to file it
Execute & file. Once you bind, we issue the executed bond in favor of the appointing court with the power of attorney attached, ready to file and be approved so you can take possession and start managing.
What sets the price
This bond is underwritten. The carrier's base rate for this bond is 1% of the bond amount; the underwriter sets your final premium from the amount, your credit and any collateral.
One application, one underwriting review.
These are the actual underwriting fields — the case caption and court, the property or business under receivership, the receiver, and your finances. Submit once and a surety specialist reviews everything together and returns a quote, typically within one business day. Free until your bond is issued.
Start the application →Common questions.
Other Michigan bonds.
Requirements checked on the carrier’s application, . Page updated .
Get bonded and take possession of the receivership.
Send us the order of appointment and a description of the property or business, and a surety specialist sizes, underwrites, and quotes the bond — typically within one business day. Free until your bond is issued.