(a) When a sale hasbeen held, the trustee is entitled to such compensation, if any, as isstipulated in the instrument.
(b) When no sale hasactually been held, compensation for a trustee's services is determined asfollows:
(1) If nocompensation for the trustee's services in holding a sale is provided for inthe instrument, the trustee is not entitled to any compensation;
(2) Ifcompensation is specifically provided for the trustee's services when no saleis actually held, the trustee is entitled to such compensation;
(3) If theinstrument provides for compensation for the trustee's services in actuallyholding a sale, but does not provide compensation for the trustee's serviceswhen no sale is actually held, the trustee is entitled to compensation asfollows: (i) one‑fourth of the completed sale compensation before thetrustee files the notice of hearing; (ii) one‑half after the filing ofthe notice of hearing; and (iii) three‑fourths after the hearing.
(4) Repealed by SessionLaws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)
(a) When a sale hasbeen held, the trustee is entitled to such compensation, if any, as isstipulated in the instrument.
(b) When no sale hasactually been held, compensation for a trustee's services is determined asfollows:
(1) If nocompensation for the trustee's services in holding a sale is provided for inthe instrument, the trustee is not entitled to any compensation;
(2) Ifcompensation is specifically provided for the trustee's services when no saleis actually held, the trustee is entitled to such compensation;
(3) If theinstrument provides for compensation for the trustee's services in actuallyholding a sale, but does not provide compensation for the trustee's serviceswhen no sale is actually held, the trustee is entitled to compensation asfollows: (i) one‑fourth of the completed sale compensation before thetrustee files the notice of hearing; (ii) one‑half after the filing ofthe notice of hearing; and (iii) three‑fourths after the hearing.
(4) Repealed by SessionLaws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)
(a) When a sale hasbeen held, the trustee is entitled to such compensation, if any, as isstipulated in the instrument.
(b) When no sale hasactually been held, compensation for a trustee's services is determined asfollows:
(1) If nocompensation for the trustee's services in holding a sale is provided for inthe instrument, the trustee is not entitled to any compensation;
(2) Ifcompensation is specifically provided for the trustee's services when no saleis actually held, the trustee is entitled to such compensation;
(3) If theinstrument provides for compensation for the trustee's services in actuallyholding a sale, but does not provide compensation for the trustee's serviceswhen no sale is actually held, the trustee is entitled to compensation asfollows: (i) one‑fourth of the completed sale compensation before thetrustee files the notice of hearing; (ii) one‑half after the filing ofthe notice of hearing; and (iii) three‑fourths after the hearing.
(4) Repealed by SessionLaws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)
