trust account


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Related to trust account: trust fund

trust account

n
1. (Banking & Finance) Also called: trustee account a savings account deposited in the name of a trustee who controls it during his lifetime, after which the balance is payable to a prenominated beneficiary
2. (Law) property under the control of a trustee or trustees
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.trust account - a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetimetrust account - a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"
Translations
AnderkontoTreuhandanderkontoTreuhandkonto
References in periodicals archive ?
Responding to the criticism of his trust-accounting practices, Voss contended that clients had not lost any money and that starting with a properly balanced trust account approved by the State Bar of Wisconsin would mean the deficiencies would not recur.
Former Zamboanga peninsula regional director Jesus Nieves should be charged with graft and malversation of public funds in connection with the transfer of money from the trust account of the regional office to a closed account, according to a resolution signed by Ombudsman Conchita Carpio-Morales recently and released yesterday .
s (NASDAQ: STLR) sponsors have deposited into the company's trust account, an aggregate of USD 402,536 (including interest earned on the funds in the Trust Account available for withdrawal), representing USD 0.
Summary: Be aware of the trust account law when buying off-plan property in Dubai
The proposal would create one large "omnibus" trust account that pools the trust accounts of participating lawyers, Sasso said.
For the fraudulent transactions, Lawson transferred millions of dollars to the borrowers and associated parties from a deceased customer's trust account, according to FINRA, in order to hide the borrowers' financial conditions and the risks associated with the bonds.
Tenders are invited for Trust Account Compliance Examinations
Those allegations came to light only after one of Shockley's clients complained in November that checks written to him from Property Management Concept's clients' trust account had bounced.
An attorney who is a member of the credit union where the trust account is opened now has a choice of financial institutions for that trust account.
If he wants to keep the account at that bank and have the same three beneficiaries, he could get full insurance by limiting the trust account to $750,000.
The trustee banks will now pay yearly charges to Rera, as mentioned in the new agreements, titled Guarantee Account Trustee Agreements, according to Khalid Al Mutaiwai, Rera's trust account administration director.
Summary: Badr Al Islami, the Islamic Banking Division of Mashreq, has announced its strategic alliance with Ras Al Khaimah Investment Authority (RAKIA), to be the official Trust Account Manager for all developers of RAKIA owned Real Estate Projects in the emirate of Ras Al Khaimah.