What is the name of your state (only U.S. law)? Wyoming
My question is what is the procedure that a trustee must go through when selling a large acreage of land that belongs to a trust? Is there any laws stating that he/she must sell it within a reasonable area of the apraised value?
The trustee of the close corporation, that I hold shares in, is selling the ranch for a very minimal amount to a personal friend of his. My family and I believe that he is selling it for so "cheap" to keep my mother from getting her due amount from the trust because she is a major shareholder and is only Married in to the family. In the long run us kids will lose out, too. All because he doesn't want us to have it. Does this tie in with shareholder oppression?
My question is what is the procedure that a trustee must go through when selling a large acreage of land that belongs to a trust? Is there any laws stating that he/she must sell it within a reasonable area of the apraised value?
The trustee of the close corporation, that I hold shares in, is selling the ranch for a very minimal amount to a personal friend of his. My family and I believe that he is selling it for so "cheap" to keep my mother from getting her due amount from the trust because she is a major shareholder and is only Married in to the family. In the long run us kids will lose out, too. All because he doesn't want us to have it. Does this tie in with shareholder oppression?