Trustee

Definition: The person or entity responsible for administering trust property according to the trust and applicable fiduciary duties.

Example

A trustee arranges authorized maintenance of a trust-owned rental property and accounts for the proceeds.

Keep the distinction clear

A trustee is not automatically the beneficial owner. Authority comes from the trust and law, and a court-appointed receiver performs a different role.

Related terms

Trust · Fiduciary · Receiver

Keep studying

FREC Course I Syllabus: What to Study for the Sales Associate State Exam

References: Florida Statutes 736.0103: trust definitions

Pronunciation (US): trus-TEE (capitals show stress)

Pronunciation reference: Merriam-Webster