trust account

Definition of "trust account"
  1. A type of account established at a financial institution, like a bank, under a living or testamentary trust, often used for temporarily holding funds
How to use "trust account" in a sentence
  1. The attorney set up a trust account to manage the funds for her client's property sale.
  2. It is common practice for real estate agents to hold deposit money in a trust account until the deal is finalized.
  3. Due to the complex financial transactions, the family established a trust account to secure their assets.

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