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Rule 72

Rule 72. Property bonds.

(a) A real property bond posted with the court shall:

(a)(1) be signed by all owners of record;

(a)(2) contain the complete legal description of theproperty and the property tax identification number;

(a)(3) be acknowledged before a notary public;

(a)(4) be accompanied by a copy of the document vestingtitle in the owners;

(a)(5) be accompanied by a copy of the property taxstatement for the current or previous year;

(a)(6) be accompanied by a current title report, a currentforeclosure report, or such other information as required by the court; and

(a)(7) be accompanied by a written statement from each lienholder stating:

(a)(7)(A) the current balance of the lien;

(a)(7)(B) the date the most recent payment was made;

(a)(7)(C) that the debt is not in default; and

(a)(7)(D) that the lien holder will notify the court if adefault occurs or if a foreclosure process is commenced during the period theproperty bond is in effect.

(b) The bond is not effective until recorded with the countyrecorder of the county in which the property is located. Proof of recordingshall be filed with the court.

(c) Upon exoneration of the bond, the property owner shallpresent a release of property bond to the court for approval.