DEFINITION of 'Conservatorship'
A circumstance in which the court declares an individual unable to take care of legal matters and appoints another individual, known as a conservator, to do so.
INVESTOPEDIA EXPLAINS 'Conservatorship'
This is sometimes referred to as "LPS Conservatorship". The LPS stands for Lanterman, Petris and Short - the three senators who passed California's mental health conservatorship laws.
Find out how conservatorships play a role in Fannie Mae and Freddie Mac's operations; read How does Fannie Mae (FNMA) make money?
A child's parent. In divorce situations, the parent with custody ...
A legal documents that outlines the terms and conditions between ...
A legal document giving one person (called an "agent" or "attorney-in-fact") ...
An individual who has been given the legal responsibility to ...
What is bankruptcy court?
A process designed to revive a financially troubled or bankrupt ...