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
Person chosen by a testator/testatrix to handle and conduct the terms of a will to an estate. Duties include collecting and selling of properties and paying debts of the state. ...
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Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license. ...
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Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are ...
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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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