trust account
Definition 1
Umbrella term for all types of trust accounts handled by a bank's trust department or a trust company in complete isolation from its other accounts or assets.
Definition 2
Escrow account in which a bank or trust company (acting as an authorized custodian) holds funds for specific purposes such as to pay property taxes and/or insurance premium associated with a mortgaged property.
Definition 3
Savings account established under a trust agreement whereby a trustee administers the funds for the benefit of one or more beneficiaries.
Mentioned in these definitions
Popular 'Banking, Commerce & Finance' Terms
trust account in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/trust-account.html
