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
Financial intermediaries who invest in deeds of trust and mortgages, and hold them in their own portfolio. Large financial firm that uses depositors' money to lend to borrowers. ...
Privilege of a real estate investor or lender to participate in the profitability generated from property. This is in addition to any principal, interest, or dividends. ...
The definition of a full covenant and warranty deed in real estate is a type of deed that includes a number of specific assurances that certain conditions will be met that go above and ...
Average of income, retail revenue, and population of a locality as a percentage of the entire United States. It reflects the economic status of a particular region. ...
(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...
An offset statement defines a specific property owner’s underwritten certificate against their property. The reason behind this action is to set forth the current condition of liens ...
Green lumber is not necessarily a lumber that’s green; though it might, sometimes, be a little greenish. And it’s also not a definition of an environmentally conscious type of ...
Lien which is over and above a first lien. A second lien is subordinate to the first lien and can be satisfied only after the initial lien is satisfied. ...
Post-like components of wood that comprise a building frame. For example, a building code in a locality might require that studs measuring two-up-six be used for the exterior part of the ...
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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