Third party to a bankruptcy proceeding. The trustee's responsibility is to value and recapitalize the real estate firm if it is to be reorganized.
Popular Real Estate Terms
An agreement in which the trustee takes title of the property ( called corpus) owned by the grantor (donor) to protect or conserve it for either the grantor or the trust's beneficiary. The ...
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Agreement to exchange real estate upon specific terms. ...
fee for the cost of a loan including interest and points. Points (1 point= 1% of the total loan) are advance charges for a mortgage, whereas interest in charge over the life of the ...
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Person receiving la legacy from a will. Normally a legatee will receive personal property possibly including real property. ...
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Subdivided acreage with utilities usually situated within or adjacent to established communities. ...
Comments for Trustee
who can be a trustee and who can not?
Mar 06, 2020 17:50:53Hey, Brianda! Some states describe the requirements needed to qualify as a trustee, so you would need to check out local laws in order to see if these requirements are met. Other than that, there might be no restriction on who can act as a trustee in a deed of trust. A trustee is usually a legal entity or an unbiased individual such as a lawyer, an attorney, a bank, a professional corporation or LLC.
Mar 31, 2020 13:22:02Have a question or comment?
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