Joint Trustees Law and Legal Definition

Joint trustees are two or more persons who are entrusted with property for the benefit of one or more others. Joint trustees cannot act independently. They must join in both conveyances and receipts, because one cannot sell without the others, or receive more of the consideration money. The trust requires the collective act of trustees to do anything under it. Joint trustees are not responsible for money received by their co-trustees, if the receipt is given for the mere purposes of form. Whereas, a joint trustee is responsible if receipts are for money received and under the control of both the trustees. In addition, the joint trustee is liable when s/he has the power to secure the money and he/she consents that the other trustee shall misapply the money.