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
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Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...
(1) Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. (2) A business loan in which ...
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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