Extra-Judicial Settlement with Waiver of Rights

Hi: I'd like to seek an advice: My dad passed away two years ago and left some money on his bank account. The Extra-Judicial Settlement with waiver of rights form has been filed - there are five heirs, and three of the heirs (who are abroad) waived their rights to claim.

In addition to the extra-judicial with waiver form, the bank wants us to get an heir bond to cover for the deposit. I thought the heir bond is no longer required because more than two years has lapsed (Rule 74, Summary Settlement of Estate).

Also, the bank wants ALL heir to be part of the heir bond. If the heir bond is still required, aren't those who "waive their rights" not required to be part of the bond? Thanks in advance for your assistance.

this is better discussed with the bank. you can also raise your concerns with BSP.

It is better to go to a lawyer who is familiar with Real Properties.