TRUST ACCOUNT Definition

Bookmark and Share

TRUST ACCOUNT is a separate bank account, segregated from a brokers own funds, in which the broker is required by state law to deposit all monies collected for clients; in some states called an ESCROW ACCOUNT.

Learn new Accounting Terms

ESCROW ACCOUNT see TRUST ACCOUNT.

VALIDATE is to a. declare or make legally valid; b. mark with an indication of official sanction; or, c. to establish the soundness of; corroborate.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.