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Can one trustee get a loan on property in trust without the signature of the other trustee's knowledge?
Wiki User
∙ 9y ago
bank mortgage was never recorded with the county. what happens
Wiki User
∙ 9y ago
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Can one trustee sell property in trust without second trustee's signature?
That depends on the provisions set forth in the trust. You need to review the trust. The trust document may provide that any one trustee can act or it may require that both trustees join in any action taken by the trustees.
Can a trust's property be taken if one of the trustees has a judgment against him?
A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property.
Is a group of trustees singular or plural?
Trustees is the plural of trustee. "The trustees had no idea where the money went"
Can you add a new name to be a trustee of a property that has been entrusted to some persons?
If property is owned in the name of a trustee of a trust, then the trust agreement controls. The person who established the trust should have created a trust agreement, and in that trust agreement it will state whom the initial trustee is and how successor trustees are named. So, check the trust agreement.
Does executor of a trust have to let the beneficiaries of the trust monitor their activities?
Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.
How would one define the meaning of the word trustee?
A trustee is one who manages a property or other assets for the benefit of another. Some trustees are paid, others are voluntary. Many charities are managed by boards of trustees who make decisions and to whom the charities' employees are accountable.
Can a trustee cash an insurance check that is made out to the trustee or trust?
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.
Can trustees not follow a trust's terms?
Trustees have a legal obligation to follow the terms of a trust as set out by the trust document and applicable laws. Failing to adhere to the trust's terms can result in legal consequences or removal from the position of trustee. It is important for trustees to act in the best interest of the beneficiaries and manage the trust responsibly.
Where can one find more information on trustees?
The are websites to find more information about trustees. CTN The Trustee Network has a range of resources available, including a 'trustee finder' search facility.
Do you include the Trustees name on the Grantee secton of a Quitclaim Deed transferring mineral interest to a Trust?
Yes. The trustee holds the legal interest to property for the trust. The grantee should be recited as "John Deere, as Trustee of the Deerfield Realty Trust".
How many trustees lead Georgia during trustee period?
21 :)
After the original settler of the trust appointed two trustees then died can the two trustees appoint a third trustee?
Typically, the power to appoint a trustee would have been granted by the settlor in the trust instrument. If the trust instrument allows for the remaining trustees to appoint a third trustee, then they would be able to do so. It is important to review the specific terms of the trust document to determine the trustees' authority in this situation.
