ArticuLaw Primo

Rule 94.

BONDS OF GUARDIANS

 

Prepared by Decemar Escalante

 

 

Section 1. Bonds to be given before issuance of Letters. Amount. Condition

 

Before the execution of his trust, or letters of guardianship, the guardian shall:

• Make and return to the court, within three (3) months the complete inventory  of all the estates (real or personal) which come to his possession or knowledge;

• Faithfully execute the duties of his trust, disposition of the estate for the best interest, proper care, custody and education of the ward;

• Render a true and just account of all the estate of the ward; and

• Perform all orders of the court.

 

Purpose of the Bond

• a. Protection of the property of the minor;

• b. Assurance of honest administration of his funds during his minority;

• As administrator, he shall faithfully discharge his duties.

                  

             The general rule: The court should not grant letters of guardianship without requiring a bond. The amount of the bond shall be fixed by the court.

                             

            Exception: Under Article 225 of the Family Code, if the annual income or market value of the property less than P50,000, there is no need to put up any bond in case the guardian is his/her parent.

 

 

Section 2. Additional Bond

 

- Where the bond is insufficient, it is not only the right but the duty of the court to provide additional security;

- When the guardian is about to receive funds, not in contemplation with the original bond:

- As condition of the payment of a legacy or distributive share to the guardian; and

- When there is statutory requirement to that effect.

 

Section 3. Bonds to be filed. Actions thereon.

 

- In the Office of the Clerk of Court; and

- In case of breach of a condition thereof, the guardian may be prosecuted in the same proceeding; or

- In separate action for the use and benefit of the ward; or

- Any other person legally interested in the estate.

 

Liabilities of Surety -Their responsibilities must depend upon the extent of the obligation created by the terms of the bond and statute which can be read into it.

 

Duration of liability – The bond of the guardian is a continuing one against the obligor and their estate until all of its conditions are fulfilled.

 

Right of Surety – Even judgment is rendered against both surety and the principal, the former may demand the benefit of a levy of the latter’s property.

 

Duty of the Surety – To see that the condition thereof are fulfilled by the guardian.

 

 

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See Delfin Nario v. Philam Life Insurance Co., G.R. No. L-22796 (June 26, 1967, 20 SCRA 434)