Which of the following is NOT a role of a trustee?

Study for the 75 Hour Broker Pre Licensing Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

A trustee is primarily responsible for managing a trust, which may involve various key roles. Among these roles, conveying land held in trust involves executing legal actions related to the trust property, which is indeed a fundamental duty. Managing trust finances is also a critical responsibility, as the trustee must ensure the assets of the trust are maintained and properly allocated.

Acting on behalf of the borrower is another function that can sometimes overlap with the responsibilities of a trustee, especially in situations involving loans secured by trust assets. This role is associated with fulfilling the terms of the loan agreements.

However, advising on legal matters is not typically a role of a trustee. While a trustee must adhere to legal obligations and may need to understand certain legal aspects of managing the trust, providing legal advice is outside their purview. This is generally the role of a legal professional, ensuring that the trustee is supported by qualified counsel when facing legal complexities.

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