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
Deed of trust or mortgage in real estate in which the lender subordinates her loan to another lender whose priority is first if there is nonpayment by the borrower. ...
Buildings in England in the 16th and 17th century with strong foundations, supports, studs, and knees. In American architecture this originally building has been combined with the English ...
(1) Civil: Individual against whom a court action is brought by a plaintiff for restitution of property or satisfaction of a complaint. (2) Criminal: Individual accused of a crime such ...
Also called accounting or unadjusted rate of return. The return computed by dividing the anticipated future annual net income by the required investment in real estate. Sometimes the ...
Legislation in 13 states providing protection to people who rent their residences. The act deals with landlord-tenant contractual relationships and obligations. ...
When we talk about adverse environmental impacts, we always refer to the man-made negative impact on the environment. An adverse environmental impact can be defined as negative changes that ...
Association of people not treated as a corporation. Examples are a limited partnership and a group of cooperative owners. ...
Direct line of descent as from father to son. An example of a lineal hereditament would be passing of the title of real property by virtue of a will to the first-born son. ...
To approximate the worth or valuation of property To give an appraisal value estimate of property. Property value appraisals are never exact, and are at best approximations of actual ...
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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