Trust Account for Real Estate
Trust Account for Real Estate is a restrictive account margin of ACLEDA Bank that customer can deposit his/her fund into this account in order to let ACLEDA Bank maintains and makes payment to beneficiary (seller) accordingly to the written instructions or the purpose of seller and buyer.
Benefits
- High secure and transparent for making payment through ACLEDA Bank
- Reasonable fee
- Cut down the risk of counterfeit documents etc.
- Promote mutual trust between buyer and seller.
Special Features
- Buyer and seller have an account with ACLEDA Bank whether it's a Savings, Demand Deposit or Current Account; and complied to account operating manual and general conditions of account operation with ACLEDA Bank.
- Buyer deposits his/her funds in the Trust Account for Real Estate directly or permits ACLEDA Bank to debit from his/her account to Trust Account as the date of the agreement.
- Buyer and seller agree to let ACLEDA Bank maintains, administers and arranges his/her funds in the Trust Account for Real Estate for making payment to real estate seller according to Trust Account for Real Estate's agreement.
Requirements
- Visiting any ACLEDA Bank's branch to get detailed information about using Trust Account for Real Estate.
- Opening an account (if you do not have an account with ACLEDA Bank) such as: Savings, Demand Deposit, or Current Account.
- Filling forms:
- Application of Trust Account for Real Estate
- Contract or agreement of Trust Account for Real Estate
- Buyer is required to deposit his/her funds into the Trust Account for Real Estate by the date mentioned in the agreement.
Fee Charge
| Amount | Fee |
|---|---|
| Up to US$50,000 | US$50 |
| Greater than US$50,000 up to US$100,000 | US$100 |
| Greater than US$100,000 up to US$150,000 | US$150 |
| Greater than US$150,000 up to US$200,000 | US$200 |
| Greater than US$200,000 up to US$300,000 | US$250 |
| Greater than US$300,000 up to US$400,000 | US$300 |
| Greater than US$400,000 up to US$500,000 | US$350 |
| Greater than US$500,000 up to US$1,000,000 | US$400 |
| Greater than US$1,000,000 | US$500 |
