Trustee Definition. Trustee Definition. A person or corporation that holds the legal title to money, property, or an estate. The trust is for the benefit of. trustee · . a person or an organization that has control of money or property that has been put into a trust for somebody. The bank will act as trustees for the. Trustee is an individual who is responsible for a property or an organization on behalf of some other individual or a third party. (2) Trustee In the case of an arrangement which is not a trust but which is treated as a trust under this subsection, the term “trustee” shall mean the person. The trustee is the person who manages the property held in the trust for the benefit of the beneficiaries named in the trust.
Trustee or Trustees means each Person who has signed this Trust Agreement as a trustee, so long as such Person shall continue as a trustee in accordance with. trustee - A person or entity that is given the responsibility to manage something on behalf of another person or entity. A trustee is someone who is responsible for another person's money or property. Trustees sometimes oversee investment accounts or make sure a property is being. Trustee definition: The independent official who handles certain aspects of a bankruptcy case. A trustee manages property that is held in trust. A trust is an arrangement in which one person holds the property of another for the benefit of a third party. Find the legal definition of TRUSTEE from Black's Law Dictionary, 2nd Edition. The person appointed, or required by law, to execute a trust; one in whom an. A trustee is someone with legal control of money or property that is kept or invested for another person, company, or organization. Trustee Program staff and to private trustees. A private trustee may have a different interpretation of the meaning of the BAPCPA provisions. If a trustee. The first, referred to as a small business case (by definition in 11 U.S.C. Moreover, the U.S. trustee is required to move for appointment of a trustee. Review the definition of a trust and how trusts can apply for recognition of exemption from federal income taxation under Internal Revenue Code section. One potential challenge for a family member or friend serving as trustee is that trustees must administer the trust impartially, meaning that they cannot favor.
Trustee Definition. Trustee Definition. A person or corporation that holds the legal title to money, property, or an estate. The trust is for the benefit of. A trustee is a third party who is authorized by a settlor to execute and manage trust assets. A trustee holds the title of the trust asset. TRUSTEE meaning: 1: a person or organization that has been given responsibility for managing someone else's property or money through a trust;. Trustee definition: The person in a trust relationship who holds title to property for the benefit of another. A trustee is a person who has control of money or property that is in a trust for someone else. Either on the death. The person (or business) who manages assets held in trust, under the terms of the trust document. A trustee's purpose is to invest trust assets and. Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust. The meaning of TRUSTEE IN BANKRUPTCY is an officer of the court in whom ownership of a debtor's property is vested for the benefit of the creditors and who. As Trustee, you have the responsibility to follow the terms of the Trust document and manage the Trust assets in a prudent manner. This not only means.
TRUSTEE meaning: someone who has legal control over someone else's money or possessions. Learn more. The simplest Trustee definition is: the named person who manages a Trust's assets. The most important aspect of the role of Trustee is ensuring one acts in the. Trustees must also keep accurate records of their management of the trust assets. If a trustee is unable or unwilling to carry out their duties, a successor. a trustee who threatened earlier this year to leave his position unless the university took steps to upend systemic racism. Definition of trustee noun in Oxford Advanced American Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and.
A trustee is appointed in each case to administer the bankruptcy estate. The chapter 7 trustee gathers and sells property, while the chapter 13 standing. What Does It Mean To Be A Trustee? Print Friendly, PDF & Email PRINT. Every trust has three components, a Settlor (a/k/a donor, trustor, or grantor), a.