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Fiduciary Responsibilities When Auctioning Property

Be careful what you bid for.

An increasingly popular option for fiduciaries to dispose of properties that are particularly difficult to maintain or sell is via an auction. Although auctions can yield successful outcomes, they can also be a pitfall for fiduciaries and a basis for claims of breach of fiduciary duties if the auction isn’t handled properly, leading to less than desirable results.   

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