§ 45-21.15. Trustee's fees.

182 words·~1 min read·/nc/chapter-45/45-21-15

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)When a sale has been held, the trustee is entitled to such compensation, if any, as is stipulated in the instrument.

(b)When no sale has actually been held, compensation for a trustee's services is determined as follows:

(1)If no compensation for the trustee's services in holding a sale is provided for in the instrument, the trustee is not entitled to any compensation;

(2)If compensation is specifically provided for the trustee's services when no sale is actually held, the trustee is entitled to such compensation;

(3)If the instrument provides for compensation for the trustee's services in actually holding a sale, but does not provide compensation for the trustee's services when no sale is actually held, the trustee is entitled to compensation as follows:

(i)one-fourth of the completed sale compensation before the trustee files the notice of hearing;

(ii)one-half after the filing of the notice of hearing; and

(iii)three-fourths after the hearing.

(4)Repealed by Session Laws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)