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
The restitution of a property insurance policy that has lapsed due to nonpayment of premiums. ...
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Bottom of a frame such as a window sill. ...
Borrower who gives property as collateral for a loan. ...
Specific portion of a larger land tract. A parcel can also be a lot in a property subdivision. ...
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Contractual provision requiring apportionment. ...
The endorser stipulates something such as that the transferee cannot use the funds for six months. ...
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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