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
When someone throws around the term “mobile home”, it almost requires further explanation to fully understand what that person is talking about. Why is that? Well, one mobile ...
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 ...
The definition of the Environmental Protection Agency can be explained by what the agency does. This independent executive agency works for the United States federal government and is ...
Persons considered legally capable of entering into a binding contract. ...
Listing Agreement A.K.A. Listing is basically a contract allowing a real estate agent or broker to list a home for sale and act as the home seller agent representing his/her interests ...
Situation in which a purchaser acquires mortgaged property and continues to pay the mortgagee for the debt outstanding. Although the new buyer continues to pay the mortgagee for the debt ...
Use of other people's money (OPM) in an attempt to maximize the return but at high risk. The use of leverage in real estate investing is a way to maximize yield on a small down payment. ...
Managing the day-to-day activities in a real estate brokerage office including recruiting and training new real estate agents, holding real estate closings, updating and managing real ...
Degree of completion or accomplishment such as a home that is 70% completed. Condition of real property. Position of an item. Legal standing such as of a case. ...
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?
We're here to help.