Receipt, Release and Refunding Bond

See “Refunding Bond”. When an estate is probated and the executor or personal administrator who is managing the estate is going to make a distribution generally the beneficiaries are requested to sign a legal document releasing the executor from any claims and acknowledging the receipt of the money or property distributed. Many of the releases signed when estate distributions are made are called “Receipt, Release and Refunding Bond”. It is a legal document in which you as the heir would acknowledge receipt of a distribution, release (no claims) against the personal administrator and then agree to refund or return the money if necessary. This is commonly done in case distributions are made but a liability, lawsuit, tax audit or other matter requires a return of some of the distributions.