Sentences with phrase «held in trust»

If a brokerage fails to disburse or account for consumer money held in trust, the affected consumer can apply for compensation from the Consumer Protection Fund.

The Consumer Protection Fund (Real Estate Assurance Fund) provides financial protection to persons who suffer a financial loss as a result of fraud, breach of trust, or a failure to disburse or account for money held in trust by an industry member.

By my understanding a trustee acts as the legal owner of the trust's assets and handles all of the assets held in the trust which seems like a lot of work.

Franchisor Sutton Group Realty Services claimed, on behalf of its salespeople, that commissions were not assets but rather were funds held in trust for the benefit of salespeople, to be paid to them upon the completion of real estate transactions.

DEPOSIT: A deposit of $ 1,000, which will form part of the Purchase Price, will be paid on the following terms: All monies paid pursuant to this section (Deposit) will be delivered in trust to [Name of the Party to Hold the Deposit] and held in trust in accordance with the provisions of the Real Estate Services Act.»

If the «standard form» Contract of Purchase and Sale is used for a trade related to a development unit that is subject to the provisions of the Real Estate Development Marketing Act, the phrase in the deposit clause shown in scenarios 1 and 2 above that states the deposit will be ``... held in trust in accordance with the provisions of the Real Estate Services Act» essentially means the deposit must be held in accordance with the Real Estate Development Marketing Act.

The brokerage that receives money in connection with this transaction is authorized to pay such money to the Buyer's conveyancer, provided that such money is to be held in trust by the conveyancer as stakeholder pursuant to the provisions of the Real Estate Services Act, pending the completion of the transaction and not on behalf of any of the principals to the transaction, and should the sale not complete, the money should be returned to the brokerage as stakeholder.

Paragraph 2 of the «standard» Contract of Purchase and Sale states that the deposit will be «held in trust in accordance with the provisions of the Real Estate Services Act».

The deposit will be held in trust by (name of third party, e.g., conveyancer / notary / builder) as a stakeholder pursuant to the provisions of the Real Estate Services Act pending the completion of the transaction.

Usually held in trust by the real estate broker or solicitor until the closing.

Amount of the deposit you are giving (which will be held in a trust account and will form part of your down - payment).

RCW 64.34.430 requires that all deposits made in connection with the purchase or reservation of a condo home be held in trust or escrow pending closing.

(iii) reconciling the money held in the trust account to the unexpended balances in the trust ledgers for the account,

The Real Estate Council of British Columbia and the Real Estate Council of Ontario have both noted that cryptocurrencies can not be held in trust and have advised buyers using them to seek legal advice.

Pursuant to section 32 [unclaimed money held in trust] of the Real Estate Services Act, a brokerage may transfer money held in trust by a brokerage to the administrator appointed under the Unclaimed Property Act, if

Such money shall not be available for payment of any debt or liability of the real estate broker or salesman, or to any person other than the person for whom the money is being held in trust.

Current sales associate sues to have her commission splits held in trust.

Scenario: A Contract of Purchase and Sale requires a buyer to provide a deposit, which is to be held in trust by ABC Brokerage (the buyer's brokerage), by January 31st.

Hurlbutt said the 10 per cent deposit will be held in trust and should the developer not complete according to the terms of the contract, the funds will be returned.

Title held in Trust.

The monies deposited had to be held in trust and if a purchase contract was signed and conditions removed, that amount would be refunded to the buyer or an adjustment made if the buyer was partly compensating the agent...... words to that effect.

Payments to minor children would be held in trust by the courts, but only until they reached the age of majority.

The foundation gives back by leveraging the interest on funds held in trust during a real estate transaction.

Broker divulges that he / she has cut a cheque to the plaintiffs for the difference in the plaintiff's» property's very quickly arranged lesser double - ended sale price vis a vis my originally accepted offer, and as well hands me a cheque covering off my deposit which had been held in trust by his / her brokerage.

I had no idea commissions weren't held in trust accounts — secure.

Or is the Property Information displayed held in a Trust?

The Commonwealth Attorney General's Department requested comments from the Aboriginal and Torres Strait Islander Social Justice Commissioner on proposed regulations under the Native Title Act regarding monies to be held in trust from future act determinations.

If the court determines it is not to be held in trust, the court must take certain steps to determine which PBC is, after becoming a registered native title body corporate, to perform functions given to it as a registered native title body corporate under the Act or under regulations.

The court may determine that it is to be held in trust by a PBC (a trust PBC).

Under ILC policies, these interests must be held in trust by ACA Act corporations (now CATSI Act corporations).14

At the time the Federal Court makes a determination of native title, it must make a determination whether the native title is to be held in trust, and if so by whom.

[18] George Winterton had earlier opted for trusteeship in suggesting: «Whereas the original, Indigenous Australians held in trust this continent of which all Australians are now trustees».

In the United States today, Indian land consists of what is called «restricted» and «trust» lands, which can occur both inside and outside Indian reservations.159 «Trust land» means land the title to which is held in trust by the United States for an individual Indian or a tribe.

(65) It has responsibility for the administration and management of 55.7 million acres of land held in trust by the United States.

«I want to assure the Aboriginal community that if we can establish any individual is owed money they will have it returned these funds were held in trust, and our predecessors failed that trust.»

Making available such services as may be necessary to promote the effective control and management of land held in trust for persons of Aboriginal descent, and

Confidentiality: Participant confidentiality is strictly held in trust by the investigators, research staff, and the sponsoring institutions and their agents, and is extended to cover clinical information relating to participants.

Among the tasks mentioned above, Trust Accounts Supervisor are also responsible for taking records of stock dividends and for adding insurance for the properties held in trust.

«There is no assurance that prices in this range (before deduction of expenses) would have been realizable had the bitcoin cash currently held in the trust been liquidated on such date,» Grayscale's announcement details.

The document highlighted that, «upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the crown.»

«Upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the crown,» the document reads.

Since the policy was held in a trust, the trustee just made a habit of paying the premium a month early each year and all was good.......

With interest only, the death benefit is held in a trust and only the interest is paid to beneficiaries for a specific amount of time.

A trust is an agreement used in estate planning that states what you want to happen to the assets held in that trust.

It spells out the rules that you want followed for assets held in trust for your beneficiaries.

A properly drafted special needs trust can protect the beneficiary's eligibility for government benefits, while at the same time providing access to the assets held in the trust for his or her benefit.

We recommend you involve your estate lawyer or accountant when purchasing this type of plan to be positive it is set up legally and properly, especially when held in a trust.

Damage to property other than the property of the insured person or held in trust or in custody or control of the insured.

The insurance policy covers property contained in one's premises, stocks and goods owned by the insured or held in trust and / or commission.

Damage to property other than property belonging to the insured or held in trust by or in the custody or control of the insured or any member of the insured's household or being conveyed by the motor cycle.