Impound fund definition

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August undefined, 2024

Witryna1. To confine in or as if in a pound: capture and impound stray dogs. 2. To place (something) in legal custody until a dispute involving it is decided: impounding ballots in a disputed election. 3. To set aside in a fund rather than spend as prescribed: a governor who impounded monies designated for use by cities. 4. Witrynaimpound in American English (ɪmˈpaʊnd ) verb transitive 1. to shut up (an animal) in a pound 2. to take and hold (a document, funds, a vehicle, etc.) in legal custody 3. to …

Impoundment of appropriated funds - Wikipedia

WitrynaImpoundment 3. (1). was defended by Administration spokesmen as being a power derived from the President’s executive powers and particularly from his obligation to … WitrynaHow to use impound in a sentence. to shut up in or as if in a pound : confine; to seize and hold in the custody of the law; to take possession of… See the full definition great river christian school

ESCROW/IMPOUND FUNDS Definition Law Insider

WitrynaCollected Funds means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such … WitrynaIMPOUND FUNDS is defined in Section 11.8. Sample 1 Based on 1 documents Related to IMPOUND FUNDS Reserve Fund Initial Deposit means the initial deposit of cash … WitrynaAn impound account is a type of account that holds accumulated funds for the payment of periodic debts against real property, such as taxes or insurance. It is also known as an escrow or reserve account. The lender holds the funds and makes the payments on behalf of the borrower. For example, if a homeowner has a mortgage, the lender may ... floppy disc use

Impound Accounts Explained Rocket Mortgage

What is an escrow or impound account? - Consumer Financial …

WitrynaBritannica Dictionary definition of IMPOUND. [+ object] : to use legal powers to get and hold (something) The police impounded her car because it was illegally parked. … Witryna10 kwi 2024 · impound in American English (ɪmˈpaʊnd ) verb transitive 1. to shut up (an animal) in a pound 2. to take and hold (a document, funds, a vehicle, etc.) in legal custody 3. to gather and enclose (water) for irrigation, etc. Webster’s New World College Dictionary, 4th Edition. Copyright © 2010 by Houghton Mifflin Harcourt. All rights … floppy disc to connect to computerWitrynaIMPOUNDMENT OF FUNDS. Presidents from time to time, and especially beginning with the regime of franklin d. roosevelt, have asserted a right not to execute the laws or … floppy disk cheat sheet infinite warfare

"Witryna4 wrz 2024 · What is an escrow or impound account? An escrow account, sometimes called an impound account depending on where you live, is set up by your mortgage … " - Impound fund definition

Impound fund definition

Impoundment legal definition of Impoundment - TheFreeDictionary.com

Witryna22 lut 2024 · An impound or escrow account is essentially a form of forced savings. Annual property taxes and home insurance premiums can be significant expenses. … WitrynaImpound means to take and hold a vehicle in legal custody. There are two types of impounds—public and private. Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account. Insurance Premium means the amount that each Debtor shall pay on a monthly basis …

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WitrynaImpound definition: To confine in or as if in a pound. By damming the stream, the engineers impounded its waters for irrigation. Witryna1) to collect funds, in addition to installment payments, from a person who owes a debt secured by property, and place them in a special account to pay property taxes and insurance when due. This protects the lender or seller from the borrower's possible failure to keep up the insurance or a mounting tax bill which is a lien on the property.

WitrynaAn action taken by the president in which he or she proposes not to spend all or part of a sum of money appropriated by Congress. Witryna1 paź 2024 · Impound accounts mitigate a lender 's risk because they ensure that the homeowner won't lose the house (which is the bank's collateral for the mortgage) due …

Witryna19 sty 2024 · Reserve Fund: A reserve fund is a savings account or other highly liquid asset set aside by an individual or business for meeting the future costs of upkeep and any unexpected costs that may arise ... Witrynaimpound verb [ T ] LAW uk / ɪmˈpaʊnd / us to take something away from someone because you have the legal right to do so: Companies in breach of the ruling may …

Witryna19 lut 2024 · What Is An Impound Account? An impound account holds your funds to pay for real estate expenses outside of a mortgage, such as property taxes and …

WitrynaIn the Impound Funding dialog, select the appropriate withdrawal checkbook from the drop-down list. Note: The withdrawal checkbook is the checkbook to be debited for fund transactions while the impound checkbook is credited. 3. Choose Setup / Direct Deposit. 4. Enter the appropriate direct deposit information to be used for the funding ACH great river chiropracticWitrynaimpounded; impounding; impounds. To impound something is to legally take it away from its owner. The police might impound your car if you were parked in front of a fire … great river cityWitrynaA place where impounded property is stored, as a lot for keeping vehicles that have been towed by police order. American Heritage The process or activity of … great river chiropractic burlington iowaWitryna1 : the act of impounding : the state of being impounded 2 : a body of water formed by impounding Synonyms captivity confinement immurement imprisonment … floppy disc reader for windows 10 great river classic soccerWitrynaAn assignment of, and first priority security interest in, all funds held in the Tax and Insurance Impound Account, Replacement Reserve Account, and any Operating Reserve Account. Until expended or applied as above provided, any amounts in the Tax and Insurance Impound Fund shall constitute additional security for the Debt. great river city light rail pty ltdWitrynanoun. im· pound· ment im-ˈpau̇n (d)-mənt. Synonyms of impoundment. 1. : the act of impounding : the state of being impounded. 2. : a body of water formed by … great river chiropractic winona mn