Article 25 an trustee means a citizen, a legal person or an organization trusting the auctioneer to auction his or her articles or property rights.

第二十五条委托人是指委托拍卖人拍卖物品或者财产权利的公民、法人或者其他组织。

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By analyzing the source of fund trustee the manager's rights and the nature of the investors' rights, I think the fund property belongs to the investors.

从管理人和托管人的权利来源及投资人享有权利性质来看，该文认为基金财产应属投资人所有。

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The Trustee may determine the real estate mortgage rights or other security interests for the trust property within the scope of the borrowed money.

受讬机构得于借入款项之范围，就信讬财产为不动产抵押权或其他担保物权之设定；

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But there was a catch: Investors needed at least 25% of so-called voting rights in a trust to declare a default and possibly compel the administrating trustee to enforce repurchases.

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