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In Each Stage of the Development Process, the Developer Faces

question 19

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In each stage of the development process, the developer faces risks that can have a profound impact on the success of the particular project. Which of the following risks is of primary concern after the construction phase has been completed?


Definitions:

Settlor

An individual or entity that creates a trust by legally transferring assets to a trustee for the benefit of beneficiaries.

Trust Created

The establishment of a fiduciary relationship where a trustee holds and manages assets on behalf of a beneficiary.

Constructive Trust

(1) An implied trust in which a party is named to hold the trust for its rightful owner. (2) An equitable trust imposed on someone who wrongfully obtains or holds legal right to property he or she should not possess.

Created

Brought into existence; the act or process of bringing something into being that did not exist before.

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