Section 60C. ”Person”, as used in sections sixty A and sixty B shall include but not be restricted to any individual, or individuals, as tenants in common, joint tenants, tenants by the entirety or otherwise; any corporation or business trust; any trustee; any partnership; any receiver or trustee in bankruptcy; any tenant having a leasehold interest for a period in excess of ten years; any mortgagee in possession.

Terms Used In Massachusetts General Laws ch. 145 sec. 60C

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Trustee: A person or institution holding and administering property in trust.
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