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trust account

an account of property established with a trust company by a grantor, for distribution during or after the grantor's lifetime.
Also called trustee account. Banking. a savings account over which the depositor, while living, has sole control as trustee, and which upon the death of the depositor becomes payable to the beneficiary. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for trust account
  • Instead, suitability to the trust account's purposes and beneficiaries' needs is considered the determinant.
  • Each offender has a non-interest bearing trust account where funds are deposited.
  • What if my client trust account is rarely used and typically has a small balance.
  • The education legacy trust account is created in the state treasury.
  • All moneys received or collected by a real estate broker for a client are required to be kept in a special trust account.
British Dictionary definitions for trust account

trust account

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
property under the control of a trustee or trustees
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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