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Home / News Stories / Trustee had no authority to put option in lease (access required)

Trustee had no authority to put option in lease (access required)

A trustee managing a 30-acre parcel of land had no implicit authority in the trust agreement to give a third party an option to buy the property, a Charlottesville Circuit judge has ruled in a case of first impression. The court allowed the trust's beneficiaries to sue the trustee, who sold the property to a developer ...