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Promissory Note process – Letter of Appointment of Fiduciary
1. In the Promissory Note module, in the Letter of Appointment of Fiduciary template (CBA example), where it states:
“so
that both the bank and the estate of the Administrator-Executor derive substantial
financial benefits while at the same time ensuring that all parties to the original
Investment Home Loan agreements are made commercially whole and are in no way
damaged by the current transactions”, is the estate of the Administrator-Executor referring to the estate of the payer of the loan, in this example, the estate of the living woman “Joanne Helen Smith”?2. So, in this L of A of F, when the living woman “Joanne Helen Smith” signs this letter, is she acting as Administrator-Executor of the estate of the legal name (or entity) “JOANNE HELEN SMITH”
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1 Reply
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Further to this in the BOE L of A of F (CBA example) template it states in the 2nd paragraph “so
that both the lender and the estate of the Administrator derive substantial
financial benefits”.Can anyone explain the omission of the word “Executor” in the above statement i.e. omitted from “Administrator-Executor” which appears in the same statement in the Promissory Note L of A of F template? Notwithstanding this, at the bottom of the BOE L of A of F, where you sign, it includes “Executor” in “Administrator-Executor” i.e.
By
Administrator-Executor Jane Doe. In own right.