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trust accountDefinition A separate bank account segregated from a broker's own funds, in which a broker is required to deposit all monies collected for clients. In some states is referred to as an escrow acco [..]
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trust accountan account opened with a trust company (as a bank) under which an inter vivos or testamentary trust is set up (as for the escrow of funds)
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trust accountAn account maintained by a broker or escrow company to handle all money collected for clients.
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trust accountA general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. See also General Trust Accounts
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trust accountMost states require property managers to place funds belonging to a third party in a specially designated "trust" account. Â This designation protects those funds from creditors and, in some cases, carry higher deposit insurances limits.
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trust accountAn account separate and physically segregated from an advisor, broker or other professional’s own funds, in which clients funds are deposited in accordance with the law.
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trust accountThis is the account set up for an invoice discounting client into which they pay the money they receive from debtors.
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trust accountAn account which manages the earnest money, money set aside for repairs, and other prepaid closing monies. These accounts are managed by the broker or the escrow agent.
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trust accountA trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the benefi [..]
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trust accountA special bank account where a lawyer deposits money held on behalf of other people, subject to strict accounting rules.
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trust accountA legislatively required bank account used to safeguard the monies held by an agent for or on behalf of another person such as a buyer or seller. (Alternative name: Escrow Account)Source
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