Legal Question in Real Estate Law in Kansas
What does the phrase: "Authorized to Wind Up Affairs", mean?
This could refer to real estate or estate planning and management as well...Not sure which.
Asked on 12/19/14, 9:30 am
1 Answer from Attorneys
Anthony Smith
LawSmith
This is generally used in terms of a partnership. When a partnership is ending, one ore more persons has the authority to resolve the ongoing business dealings, i.e. finishing work that the par ership was obligated to go, collecting fees, selling assets, closing bank accounts, paying creditors, and distributing funds.
The term can also be sometimes misused when describing a person she can finish the financial affairs of a deceased person. The can complete work that person was obligated to do, pay bills, and consolidate bank accounts.
Good luck
Answered on 12/21/14, 4:53 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
