co-trustee

co-trustee
n.
   a trustee of a trust when there is more than one trustee serving at the same time, usually with the same powers and obligations. Occasionally a co-trustee may be a temporary fill-in, as when the original trustee is ill but recovers. The co-trustee must act in consultation with the other trustee(s), unless the language of the trust allows one co-trustee to act alone.
   See also: trust, trustee

Law dictionary. . 2013.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • trustee — trust·ee 1 /ˌtrəs tē/ n 1: one to whom something is entrusted: one trusted to keep or administer something: as a: a member of a board entrusted with administering the funds and directing the policy of an institution or organization b: a country… …   Law dictionary

  • trustee — an agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor s management should not remain in their …   Glossary of Bankruptcy

  • Trustee — is a legal term that refers to a holder of property on behalf of a beneficiary. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non charitable purposes): typical examples are a… …   Wikipedia

  • trustee in bankruptcy — trustee in bankruptcy: an officer of the court in whom ownership of a debtor s property is vested for the benefit of the creditors and who administers the property for the purpose of making payments to the creditors according to the priority of… …   Law dictionary

  • Trustee System — • In the exercise of inherent rights of administering property, the Church often appoints deputies Catholic Encyclopedia. Kevin Knight. 2006. Trustee System     Trustee System      …   Catholic encyclopedia

  • Trustee from the Toolroom — is a novel written by the late Nevil Shute. Shute died in January, 1960, and Trustee was published posthumously later that year. Plot summaryThe plot of the novel hinges on the actions of a technical journalist, Keith Stewart, whose life has been …   Wikipedia

  • Trustee — Trus*tee , n. (Law) A person to whom property is legally committed in trust, to be applied either for the benefit of specified individuals, or for public uses; one who is intrusted with property for the benefit of another; also, a person in whose …   The Collaborative International Dictionary of English

  • Trustee — Trus*tee , v. t. 1. To commit (property) to the care of a trustee; as, to trustee an estate. [1913 Webster] 2. (Law) To attach (a debtor s wages, credits, or property in the hands of a third person) in the interest of the creditor. [U. S.] [1913… …   The Collaborative International Dictionary of English

  • Trustee process — Trustee Trus*tee , n. (Law) A person to whom property is legally committed in trust, to be applied either for the benefit of specified individuals, or for public uses; one who is intrusted with property for the benefit of another; also, a person… …   The Collaborative International Dictionary of English

  • Trustee's Report on the Bankrupt's Application for Discharge — (also known as the 170 Report) (Dictionary of Canadian Bankruptcy Terms) The trustee must prepare a report in the prescribed form with respect to the affairs of the bankrupt, the causes of the bankruptcy, the manner in which the bankrupt has… …   Glossary of Bankruptcy

  • trustee — ● trustee nom masculin (anglais trustee) Mandataire qui, ayant reçu des instruments de paiement, doit les délivrer à leur bénéficiaire dans des conditions définies. Administrateur qui, aux termes d un accord entre créanciers et débiteurs, assure… …   Encyclopédie Universelle

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”