As your trustee, MEB assists you with growing and managing the components of your trust with a wide range of professional asset management services.Trust account is largely demanded real estate development projects.
MEB offers trust accounts as an optional service. In a trust account, a trustee controls funds for the benefit of another party - an individual or a group. The bank trust account is a useful way to convey and control assets on behalf of a third-party owner. One such trust, a Totten trust, allows a trustee to control the assets of an estate, while a real estate trust holds funds for payment of costs associated with a property.
For real estate projects bank handles money for the benefit of a property owner. Funds are placed in the account for the payment of real estate taxes, property insurance, and other liabilities, and paid to the appropriate agency when the bills become due. In this manner, a monthly mortgage payment can include payment for other costs and the pro-rated funds placed into the trust account when the homeowner's payment is received.