Which entity is most likely to issue a trustee’s deed?

A trustee's deed is typically issued by a trustee, an individual or entity that holds and manages property for the benefit of others, usually in accordance with a trust agreement. In the context of the question, a personal representative is often involved in the administration of an estate, particularly when property needs to be transferred from a deceased person's estate to heirs or beneficiaries.

When a property is held in trust and needs to be conveyed, the trustee executes a trustee's deed to transfer the title. This legal document certifies that the trustee has the authority to sell or transfer the property as outlined in the trust agreement. Therefore, the role of the personal representative aligns well with the responsibilities and authority associated with executing such a deed.

Options like a private seller, a substitution of judgment, and a financial institution do not typically issue trustee's deeds. A private seller would be involved in private sales rather than in a fiduciary capacity under a trust agreement. A substitution of judgment does not function as an entity that can issue deeds, and while a financial institution may hold a deed in trust or as part of a mortgage arrangement, it is more common for the trustee designated in a trust or estate to be the one to execute a trustee's deed. Hence, the most appropriate answer