Statutory Trustee

A Statutory Trustee is a person or persons appointed by the Court for the purpose of selling real property, such as land and the houses or buildings on it. Statutory Trustees are generally appointed as a result of a dispute between one or more of the co-owners of the property. Where co-owners cannot agree on whether a property should be sold, or where one party cannot raise sufficient funds to pay out the other party’s interest in the property, a Statutory Trustee may be appointed to administer the sale and distribute the proceeds.