What type of bond guarantees that a court-appointed person will properly manage the property or interests of others?

The correct answer is a fiduciary bond. This type of bond ensures that a court-appointed person, such as an executor or trustee, will manage the financial interests or property of others in accordance with the law and the terms of their appointment. Fiduciary bonds are commonly required in situations where someone is responsible for the care and management of another person’s assets, including estates, trusts, or guardianships.

This bond serves as a safeguard to protect the interests of those who may be affected by the fiduciary's actions, providing a financial remedy if the fiduciary fails to fulfill their duties properly. The bond must be issued by a surety company and typically covers potential losses due to mismanagement, fraud, or failure to comply with applicable laws.

Other options may relate to specific contexts but do not encompass the broader responsibility of managing others' interests. For example, while a trustee bond is a specific type of fiduciary bond related solely to trustees, and a probate bond pertains specifically to executors in probate cases, the term "fiduciary bond" broadly covers any situation where fiduciaries are involved in managing funds or property on behalf of someone else. Performance bonds relate to contractors and do not apply in this context. Thus, identifying fiduciary bonds as