I don't know about other companies, but Massey, who has many termite contracts in The Villages, does not issue a "bond". They give you a contract that states that they will retreat and repair damage caused by termites. Apparently, you are dependent on Massey to fund any costs related to your house being damaged by termites. I think that their contract can be transferred to the new owner, buy I doubt that they will give you a prorated refund when you sell your house.
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