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 ?
Most states consider tenants' security deposits to be the property of the tenant and require that they be kept in a trust account. (In a number of states, such as Michigan and New York, security deposits are regulated under landlord-tenant laws rather than by the department of real estate).
M2 EQUITYBITES-May 24, 2019-GigCapital announces contribution to trust account
The Wisconsin Supreme Court has suspended the license of a Madison-area attorney for three months for mishandling his former firm's trust account.
which includes three different accounts maintained by the accountant-general: the Consolidated Revenue Account, Consolidated Loan Account, and Consolidated Trust Account.
Finance Minister Lim Guan Eng pressed Datuk Seri Najib Razak today to explain three matters related to the RM19.3 billion the former previously said was missing from the government's trust account for Goods and Services Tax (GST) refunds.
DAP secretary general Lim Guan Eng is lodging a police report on the missing RM19.52 billion Goods and Service Tax (GST) refunds from its trust account.
In a case which the Supreme Court said "gives new meaning to the phrase 'turning a blind eye,'" a Florida lawyer has been disbarred after he hired a convicted embezzler, fired him for trying to steal around $21,000, then rehired the man and failed to adequately supervise him as he stole more than $4.7 million from the firm's trust account over four years.
That was supposed to be retirement money that was part of a marital estate that was to be held in Boltz's trust account until the court issued a judgment in the case.
Under that, the shareholders will extend the date on which to commence liquidating the trust account established in relation to the company's initial public offering, if it does not consummate a business combination between 10 June to 8 October 2017.
These activities included: developing software to maintain trust accounts; designing a system to improve the speed and efficiency of data processing for Norwest's equipment-leasing business; designing an integrated collection of software applications to support general ledger accounts and to produce balance sheets, income statements and other financial reports; developing a software package to move funds electronically in real time from Norwest's accounts, through the Federal Reserve System, to destination financial institutions; designing a payroll management system; developing a system to make disbursements from pension trust accounts, maintain trust account records and report tax-related information; and developing a software system to support the issuance of Norwest's debit card.