The public trustee is an office established pursuant to national (and, where applicable, state or territory) statute, to act as a trustee, usually where a sum is required to be deposited as security by legislation, where courts remove another trustee, or for estates where either no executor is named by will or the testator elects to name the Public Trustee.
Read more about Public Trustee: Origins, Other Nations, United Kingdom and Australia, New Zealand
Famous quotes containing the word public:
“During the Civil War the area became a refuge for service- dodging Texans, and gangs of bushwhackers, as they were called, hid in its fastnesses. Conscript details of the Confederate Army hunted the fugitives and occasional skirmishes resulted.”
—Administration in the State of Texa, U.S. public relief program (1935-1943)