562 CHAPTER Twenty-Seven

562 CHAPTER Twenty-Seven

ADMINISTRATOR — A person appointed by the probate court to administer the estate of a deceased person who died intestate. (Administratrix, the feminine form.) ADR — See ALTERNATIVE DISPUTE RESOLUTION. taxation. ADVANCE — Transfer of funds from a lender to a borrower in advance on a loan. ADVANCE COMMITMENT — The institutional investor’s prior agreement to provide long-term financing upon completion of construction; also known as a “take-out” loan commitment. ADVANCE FEES — A fee paid in advance of any services rendered.