Trustee Liability - Posted by corey

import · February 3, 2002, 2:05am

Posted by William Bronchick on February 05, 2002 at 09:28:46:

Under state law, the trustee is acting on behalf of a trust and not personally liable, so long as he discloses the fact that he is acting in a representative capacity. However, a trustee that personally commits a wrongdoing, such as discrimination in housing, can be held personally liable. However, if the property manager commits the wrongdoing, the trust is liable, not the trustee.

import · February 3, 2002, 2:05am

Posted by corey on February 03, 2002 at 03:05:03:

If i am Trustee of a land trust, with an LLC as beneficiary, what kind of personal liability do I have as Trustee. If I sign all of my leases as trustee, am I putting myself personally at risk or can the tenants only go after trust’ss or in this case, the LLC’s assets?

Corey