Indemnification Agreement
My lawyer verbally, and in writing, agreed to pay a judgment secured against
me on a civil bond. By so doing my mother’s property would be released. The
judgment creditor cannot be located causing the payment to revert to the
Commonwealth, which he is against. He is willing to execute an
Indemnification Agreement under which he agrees to accept full responsibility
for any claims against my mother’s property should such a claim be made.
About eight years are remaining on the life of the judgment, my mother is 80
and in bad health. At the time she signed the bond he told her the property
would be released in about six weeks. Should my mother enter into an
agreement with him or would it be wiser for her to secure a lawyer?
Re: Indemnification Agreement
What happens in the event that your lawyer dies next week, his estate subsequently is probated (with all of his obligations owed at the time of his death being paid)within the next two years after his demise, and a claim is then filed three years after that? Who’s going to pay or negotiate a settlement for the claim at that time?
Judgments are also subject to renewal for a term of up to twenty years, depending upon the court in which they’ve been filed.
Michael E. Hendrickson
Attorney & Counsellor at Law
211 North Union Street Suite 100
Alexandria, 22314