A Quick Overview of a Trustee

A trustee can sit at the head of a trust, although a trustee can also administer an estate. The principles that govern the work of a trustee has also been used to refer to the heads of corporations.

The position of public trustee developed in New Zealand before spreading throughout the world, especially in British Commonwealths. In probate law, a public trustee may be called upon to serve as an executor for an estate in which the will has not named an executor or the named executor cannot serve or refuses to assume the duty. However, an individual may specify that their executor will be the public trustee.

A trustee sale is a case of foreclosure under which a trustee sells a foreclosed piece of real estate in order to satisfy the specific requirements of a Deed of Trust.