Trustee In Bankruptcy
Definition of "Trustee in bankruptcy"
Person selected by a judge or creditors of a bankrupt individual to handle matters including the sale of the bankrupt's assets, management of the funds from the sale of those assets, payment of expenses, and distribution of the balance to creditors. The trustee is usually compensated with a specified percentage of the liquidation value.
Popular Real Estate Terms
Same as term higher and best use: Use of a parcel of land that will produce the greatest current value. ...
Letter sent an individual informing him or her they are in default on an agreement. Normally, a notice of default will give the defaulting party the terms necessary to remedy a default and ...
Same as term plat book: Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements ...
Price at which the seller and the buyer agree to trade real estate on the open market. ...
Any geographic taxing division where the legally chosen representatives are charged with the responsibility of assessing taxable property and collecting tax revenue. ...
The number of units currently occupied in a facility, neighborhood, or city, stated as a percentage of total capacity. For example, a hotel has 80 rooms available for guests. Its average ...
Amount to be paid by a person or business for violating a statute or legal court order. It may also be assessed for violating the provisions of a contract. Examples of penalties are a ...
Pipes from a structure to a sewer for the purpose of sewage disposal. ...
The definition of a closed-end lease is what happens when an individual rents or leases an asset at a monthly rate with no obligations for the lessee to purchase the asset that he rents at ...
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