Trustee definition: Copy, customize, and use instantly
Introduction
The term "Trustee" refers to an individual or entity appointed to manage assets, rights, or obligations on behalf of another party, known as the beneficiary, under the terms of a trust or agreement. Trustees are responsible for acting in the best interests of the beneficiaries and adhering to the terms of the trust or contract.
Below are various examples of how the term "Trustee" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Trustee" as a fiduciary for a trust
This definition ties "Trustee" to their fiduciary role in a trust.
"Trustee" refers to the person or entity appointed to administer the assets and obligations of a trust, acting in a fiduciary capacity to manage and distribute the trust property in accordance with the terms of the trust agreement and applicable law.
Definition of "Trustee" as a representative in bond agreements
This definition connects "Trustee" to bondholder representation.
"Trustee" means the entity appointed to represent the interests of bondholders, ensuring compliance with the terms of the bond indenture and acting on behalf of bondholders in the event of default or other specified circumstances.
Definition of "Trustee" as an administrator in bankruptcy
This definition applies "Trustee" to bankruptcy proceedings.
"Trustee" refers to the individual or entity appointed by the court to manage and oversee the debtor’s estate in a bankruptcy proceeding, ensuring fair distribution of assets to creditors and compliance with applicable laws.
Definition of "Trustee" as a custodian for assets
This definition ties "Trustee" to the role of asset custodian.
"Trustee" means the person or entity responsible for safeguarding and managing assets placed in trust, ensuring their preservation and proper use for the benefit of the beneficiaries.
Definition of "Trustee" as an executor of a will
This definition connects "Trustee" to estate administration.
"Trustee" refers to the person or entity designated to carry out the terms of a will, managing and distributing the decedent’s assets to the named beneficiaries as directed by the will.
Definition of "Trustee" as a neutral party in escrow
This definition applies "Trustee" to escrow agreements.
"Trustee" means the neutral third party responsible for holding and managing funds or documents in escrow until the conditions of the escrow agreement are fulfilled.
Definition of "Trustee" as an agent for beneficiaries
This definition focuses on the Trustee’s role in acting for beneficiaries.
"Trustee" refers to the individual or entity acting as an agent on behalf of beneficiaries, exercising discretion and authority to manage and administer the trust assets in their best interests.
Definition of "Trustee" as a trustee in real estate transactions
This definition ties "Trustee" to real estate management.
"Trustee" means the individual or entity appointed to hold legal title to real property on behalf of another party, ensuring compliance with the terms of the trust deed or agreement.
Definition of "Trustee" as a party to debt restructuring
This definition applies "Trustee" to restructuring agreements.
"Trustee" refers to the entity responsible for overseeing the restructuring of debt obligations, ensuring that creditors and debtors comply with the terms of the restructuring plan.
Definition of "Trustee" as a trustee in pension plans
This definition connects "Trustee" to retirement fund management.
"Trustee" means the individual or entity appointed to manage and administer the assets of a pension or retirement fund, ensuring that the fund is operated in accordance with the governing rules and for the benefit of the plan participants.
Definition of "Trustee" as a trustee in charitable trusts
This definition ties "Trustee" to charitable organization management.
"Trustee" refers to the individual or entity responsible for managing and distributing assets in a charitable trust, ensuring compliance with the trust’s objectives and applicable regulations.
Definition of "Trustee" as a trustee in securitization agreements
This definition applies "Trustee" to securitization structures.
"Trustee" means the entity appointed to oversee and administer the securitization trust, ensuring that payments from underlying assets are distributed to investors in accordance with the terms of the securitization agreement.
Definition of "Trustee" as a trustee in investment funds
This definition focuses on trustees managing investment vehicles.
"Trustee" refers to the person or entity appointed to manage and safeguard the assets of an investment fund, ensuring adherence to the fund’s governing documents and fiduciary responsibilities.
Definition of "Trustee" as a trustee in employee benefit plans
This definition ties "Trustee" to employee benefit fund oversight.
"Trustee" means the individual or entity responsible for managing the assets and administration of an employee benefit plan, acting in the best interests of the plan participants and beneficiaries.
Definition of "Trustee" as a trustee in debt recovery
This definition applies "Trustee" to recovery efforts for creditors.
"Trustee" refers to the person or entity appointed to recover and distribute assets owed to creditors in accordance with a recovery plan or court order.
Definition of "Trustee" as a trustee in trust companies
This definition ties "Trustee" to institutional trust management.
"Trustee" means a corporate entity, such as a trust company, that provides fiduciary services, including managing trusts, estates, and other fiduciary arrangements for clients.
Definition of "Trustee" as a trustee in family trusts
This definition focuses on trustees in family estate planning.
"Trustee" refers to the individual or entity designated to manage and administer assets in a family trust, ensuring proper distribution to family members as outlined in the trust deed.
Definition of "Trustee" as a trustee in environmental trusts
This definition applies "Trustee" to sustainability initiatives.
"Trustee" means the person or entity appointed to oversee funds or resources allocated for environmental conservation, ensuring compliance with the trust’s sustainability objectives.
Definition of "Trustee" as a trustee in litigation trusts
This definition ties "Trustee" to legal claim management.
"Trustee" refers to the individual or entity appointed to manage funds or claims in a litigation trust, ensuring that proceeds from litigation are distributed according to the trust terms.
Definition of "Trustee" as a trustee in cross-border trusts
This definition applies "Trustee" to international trust arrangements.
"Trustee" means the person or entity appointed to manage a trust that involves assets or beneficiaries in multiple jurisdictions, ensuring compliance with applicable international laws and regulations.
Definition of "Trustee" as a trustee in hybrid trusts
This definition focuses on mixed-purpose trusts.
"Trustee" refers to the person or entity responsible for managing a hybrid trust, which combines features of discretionary and unit trusts, in accordance with the trust’s terms.
Definition of "Trustee" as a trustee for escrowed intellectual property
This definition ties "Trustee" to IP-related escrow agreements.
"Trustee" means the individual or entity appointed to hold and manage intellectual property assets in escrow until specific conditions outlined in the agreement are fulfilled.
Definition of "Trustee" as a trustee in special needs trusts
This definition focuses on trustees managing assets for individuals with disabilities.
"Trustee" refers to the person or entity responsible for managing a special needs trust, ensuring that the trust assets are used to support the beneficiary while preserving eligibility for government benefits.
Definition of "Trustee" as a trustee in disaster relief funds
This definition applies "Trustee" to emergency funding management.
"Trustee" means the person or entity appointed to manage funds allocated for disaster relief efforts, ensuring proper distribution to affected individuals or organizations.
Definition of "Trustee" as a trustee in royalty trusts
This definition ties "Trustee" to managing income-generating resources.
"Trustee" refers to the individual or entity responsible for overseeing a royalty trust, ensuring that income from royalties is collected and distributed to the beneficiaries as specified in the trust agreement.
Definition of "Trustee" as a trustee for voting trusts
This definition applies "Trustee" to voting control agreements.
"Trustee" refers to the individual or entity appointed to hold voting rights on behalf of shareholders under a voting trust agreement, exercising such rights in accordance with the terms of the trust.
Definition of "Trustee" as a trustee in healthcare trusts
This definition ties "Trustee" to medical-related trusts.
"Trustee" means the person or entity responsible for managing funds allocated for healthcare expenses or benefits, ensuring proper disbursement in compliance with the trust’s terms.
Definition of "Trustee" as a trustee in educational trusts
This definition focuses on trustees managing education funds.
"Trustee" refers to the individual or entity designated to oversee a trust established for educational purposes, including the distribution of scholarships or tuition payments to beneficiaries.
Definition of "Trustee" as a trustee in creditor trusts
This definition applies "Trustee" to creditor arrangements.
"Trustee" means the individual or entity appointed to manage a trust established for the benefit of creditors, ensuring the fair distribution of assets recovered from a debtor.
Definition of "Trustee" as a trustee in charitable remainder trusts
This definition ties "Trustee" to split-interest arrangements.
"Trustee" refers to the individual or entity responsible for administering a charitable remainder trust, managing the assets and ensuring that income is paid to non-charitable beneficiaries before the remainder is distributed to the designated charity.
Definition of "Trustee" as a trustee in mining trusts
This definition applies "Trustee" to resource extraction revenues.
"Trustee" means the person or entity appointed to manage a trust that collects and distributes revenues from mining operations to beneficiaries as specified in the trust agreement.
Definition of "Trustee" as a trustee in perpetual trusts
This definition ties "Trustee" to long-term asset management.
"Trustee" refers to the individual or entity responsible for managing a trust with no defined termination date, ensuring the ongoing preservation and distribution of assets for successive generations or beneficiaries.
Definition of "Trustee" as a trustee in restructuring trusts
This definition applies "Trustee" to post-restructuring asset management.
"Trustee" means the individual or entity appointed to manage assets or claims remaining after a corporate restructuring, ensuring compliance with the restructuring plan.
Definition of "Trustee" as a trustee in unit trusts
This definition focuses on investment trusts with units.
"Trustee" refers to the individual or entity responsible for holding the assets of a unit trust on behalf of the unit holders, ensuring that distributions and investments comply with the trust’s terms.
Definition of "Trustee" as a trustee in corporate trusts
This definition ties "Trustee" to corporate asset management.
"Trustee" means the entity designated to manage corporate assets, such as employee stock ownership plans or other benefit plans, ensuring compliance with fiduciary obligations.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.