trust account


noun
  1. an account of property established with a trust company by a grantor, for distribution during or after the grantor's lifetime.

  2. 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.

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British Dictionary definitions for trust account

trust account

noun
  1. 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. property under the control of a trustee or trustees

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