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#512973 - 03/13/06 03:46 PM Check "in trust"
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
Cheeseland
Has anyone ever seen or heard of a check made payable to a person or a business, followed by the words "in trust?"

Any information would be appreciated!

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Operations Compliance
#512974 - 03/13/06 05:50 PM Re: Check "in trust"
nemoomen Offline
100 Club
nemoomen
Joined: Aug 2005
Posts: 193
WI
Karen,
I've seen this but normally with a name behind it. (ie. John Smith in trust for Jenny Jones). This would indicate that John Smith is acting as Trustee with Jenny Jones the beneficiary.

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#512975 - 03/13/06 07:24 PM Re: Check "in trust"
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
Cheeseland
That I have seen as well, but this one has nothing behind it; according to the customer it implies a legal obligation on behalf of the person transacting the check to act as the signer wants. New one on me!

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