American Heritage® Dictionary of the English Language, Fourth Edition
- n. Law One, such as a bank, that holds legal title to property in order to administer it for a beneficiary.
- n. A member of a board elected or appointed to direct the funds and policy of an institution.
- n. A country responsible for supervising a trust territory. See Usage Note at -ee1.
- v. To place (property) in the care of a trustee.
- v. To function or serve as a trustee.
Century Dictionary and Cyclopedia
- n. A person to whom property or funds have been committed in the belief and trust that he will hold and apply the same for the benefit of those who are entitled, according to an expressed intention, either by the parties themselves, or by the deed, will, settlement, or arrangement of another; also, by extension, a person held accountable as if he were expressly a trustee in law. Compare guardian, 2.
- n. In the United States, a person in whose hands the effects of another are attached in a trustee process (see the phrase below).
- To attach by a trustee process. See trustee, n., 3.
- n. 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 hands the effects of another are attached in a trustee process.
- v. To commit (property) to the care of a trustee; as, to trustee an estate.
- v. To attach (a debtor's wages, credits, or property in the hands of a third person) in the interest of the creditor.
GNU Webster's 1913
- 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 hands the effects of another are attached in a trustee process.
- v. To commit (property) to the care of a trustee.
- v. (Law), United States To attach (a debtor's wages, credits, or property in the hands of a third person) in the interest of the creditor.
- n. members of a governing board
- n. a person (or institution) to whom legal title to property is entrusted to use for another's benefit
“In Mexico, the trustee is always a financial institution, and it holds title to the property.”
“But some interviewed expressed concern that a younger patron may lack familiarity with an organization's priorities, which could turn problematic given that a trustee is often vested with executive-hiring approval, financial responsibilities and, in the case of museums, the acquisition of artwork.”
“BNY Mellon, the bond trustee, is charged with administering the securitizations, or bond trusts, for the benefit of investors.”
“The virtue of the sole trustee is that you have one person accountable and with an incontrovertible mandate to protect the pension fund against raids.”
“In a New Orleans federal bankruptcy court, a trustee is investigating how Lender Processing and the Boles Law Firm of Monroe, La., failed to credit a borrower's loan payments during efforts to lift a foreclosure stay on behalf of a lender.”
“I remember talking to a trustee from the University of Zurich who suggested that they put more of the endowment in real estate.”
“This is often described as a trustee's most important fiduciary duty, the duty of loyalty.”
“Joining Mr. Gutierrez as a trustee is Barry Jackson, a former deputy to Karl Rove, who serves as assistant to the president for strategic initiatives and external affairs.”
“But", says the Court of Appeals, "even when the trust instrument vests the trustee with broad discretion to make decisions regarding the distribution of trust funds, a trustee is still required to act reasonably and in good faith in attempting to carry out the terms of the trust.”
“The fact is, the position of a trustee is never satisfactory to the beneficiary or to the trustee himself.”
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