Impound fund definition

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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 … 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

Impound Definition & Meaning YourDictionary

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 … 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. can cough linger after covid

Impoundment (political) legal definition of Impoundment (political)

WitrynaESCROW/IMPOUND FUNDS. Required Reserve Fund Deposit. Disbursement Account has the meaning ascribed to it in Section 1.1 (e). Escrowed Payment. Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender. Escrowed Property has the meaning set forth in the … WitrynaImpound definition: To confine in or as if in a pound. By damming the stream, the engineers impounded its waters for irrigation. WitrynaDefinition of Impoundment (CRS). Impoundment includes any executive action to withhold or delay the spending of appropriated funds. One useful distinction among impoundment actions, which received statutory recognition in the 1974 Impoundment Control Act, focuses on duration: whether the President’s intent is permanent … can coughing up blood lead to death

Impound legal definition of impound - TheFreeDictionary.com

Tax and Insurance Impound Definition Law Insider

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 … 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 … fish markets in orleans cape codWitryna10 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 … can coughing injure a rib

"Impoundment is, more generally, the act of detaining something such as animals or personal property due to a legal dispute. In roughly this sense, the President detains funds in the treasury rather than spending them as appropriated. The first use of the power by President Thomas Jefferson involved refusal to spend $50,000 ($1.12 million in 2024) in funds appropriated for the acquisition of gunboats for the United States Navy. He said in 1803 that "[t]he sum of fifty thousa… " - Impound fund definition

Impound fund definition

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 … WitrynaA. In 1972, President Richard Nixon impounded funds for various social programs. Nixon argued that because Congress lacked a process for controlling the federal budget, budget deficits might expand irresponsibly if the …

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WitrynaAn 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. WitrynaCollected Funds means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such …

Impound is an account maintained by mortgage companies to collect amounts such as hazard insurance, property taxes, … Zobacz więcej Impound accounts are often required of borrowers who put down less than 20%. The purpose of the impound account is to protect the … Zobacz więcej Sometimes, a mortgage impound is not required, but a borrower can elect to have one. On one hand, a mortgage impound may tie up money that might be better used … Zobacz więcej 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 in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date. Impound means to take and hold a vehicle in legal custody.

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. Witrynanoun. 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 …

WitrynaVehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, which is a holding place for cars until they are placed back in the control of …

WitrynaFunds cannot be deferred beyond the end of the fiscal year, or for so long that the affected agency could no longer spend the funds prudently. In the original Impoundment Control Act, the president was allowed to defer funds for any reason, including opposition to a specific program or for general policy goals, such as … can cough linger after coronavirusWitrynaBritannica Dictionary definition of IMPOUND. [+ object] : to use legal powers to get and hold (something) The police impounded her car because it was illegally parked. … can coughing too hard cause a herniaWitrynaAn 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 ... can cough medicine cause goutWitryna22 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. … can cough medicine cause constipationWitrynaimpounded; 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 … fish markets in pacific grove caWitrynaA quick definition of impound: Impound: When the police or court take someone's things, like a car or a building, because of a crime. Sometimes the owner can get their things back, but other times the things are given to the government. Impound can also mean taking money from someone who owes a debt and putting it in a special … fish markets in palm coast floridaWitrynaIn 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 can could may 使い分け