Massachusetts General Laws ch. 205 sec. 13 – Fiduciary; license to sell or mortgage realty; additional bond
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Section 13. If a license or authority to sell or mortgage real estate is granted to an executor, administrator, guardian, conservator or trustee, no special bond shall be required; but if the court finds the bond already given by him insufficient, it shall, before granting such license or authority, require an additional bond containing the same conditions as are required in the original bond.
Terms Used In Massachusetts General Laws ch. 205 sec. 13
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Trustee: A person or institution holding and administering property in trust.