Simple English definitions for legal terms
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A custodian is a person who takes care of something. For example, a custodian can be someone who takes care of a child's money until they are old enough to use it. In bankruptcy, a custodian is someone who is appointed to take care of a person's property to help pay off their debts.
A custodian is a person who is responsible for taking care of something. This can include managing property or assets, enforcing liens, or general administration of property for the benefit of creditors.
These examples illustrate how a custodian can have different responsibilities depending on the context. In all cases, however, a custodian is someone who has been entrusted with the care and management of something valuable.