Idaho Code > Title 15 > Chapter 7 > Part 4 – Powers of Trustees
Current as of: 2023 | Check for updates
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Other versions
| 15-7-401 | Powers of Trustees |
| 15-7-402 | Additional Powers |
| 15-7-403 | Appointment of Trustee and Letters of Trusteeship |
Terms Used In Idaho Code > Title 15 > Chapter 7 > Part 4 - Powers of Trustees
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Devise: To gift property by will.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Grantor: The person who establishes a trust and places property into it.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Oath: A promise to tell the truth.
- person: includes a corporation as well as a natural person;
Idaho Code 73-114Plaintiff: The person who files the complaint in a civil lawsuit. Property: includes both real and personal property. See Idaho Code 73-114 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 Trustee: A person or institution holding and administering property in trust. Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.