Commission Trust definition

Commission Trust means a constituted trust where all deposits and other monies received by or due to a Brokerage directed to satisfy Commission payable or damages or other compensation in lieu of Commission, plus applicable taxes, on any trade in real estate are received and held by the Brokerage in trust. Where the deposit is received by a listing Brokerage, the beneficiaries of the Commission Trust shall be the cooperating Brokerage and any listing Salesperson or listing Broker to the extent of any agreed Commission amount, and the listing Brokerage as to the balance after payment of such agreed Commission. Where the funds are received and held by the cooperating Brokerage, the beneficiaries of the Commission Trust shall be the cooperating Salesperson or cooperating Broker to the extent of any agreed Commission amount and the cooperating Brokerage as to the balance after payment of such agreed Commission. In the event that the cooperating Brokerage receives the deposit, the beneficiaries to the Commission Trust shall be the listing Brokerage and any cooperating Salesperson or cooperating Broker to the extent of any agreed Commission amount and the cooperating Brokerage as to the balance after payment of such agreed Commission. Where the funds are received and held by the listing Brokerage, the beneficiaries of the Commission Trust shall be the listing Salesperson or listing Broker to the extent of any agreed Commission amount, and the listing Brokerage as to the balance after payment of such agreed Commission.
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Commission Trust means all deposits and other monies received by or due to the Listing Brokerage directed to satisfy commission payable or damages or other compensation in lieu of commission, plus applicable taxes on any of the foregoing, in connection with the Transaction that are held by the Listing Brokerage in trust.
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Examples of Commission Trust in a sentence

  • This agreement shall constitute a Commission Trust Agreement as defined in the MLS® Rules and shall be subject to and governed by the MLS® Rules pertaining to Commission Trust.

  • The Commission retains final authority over the Commission Trust Funds and access to these funds, upon proper authorization, shall be performed by the FCACTT in a timely and efficient manner.

  • Said Fee shall be disbursed in accordance with the Commission Trust Agreement.

  • This agreement shall constitute a Commission Trust Agreement as defined in the MLS Rules and shall be subject to and governed by the MLS Rules pertaining to Commission Trust.

  • Otherwise, the provisions of the OREA recommended MLS® rules and regulations shall apply to this Commission Trust Agreement.

  • This Commission Trust Agreement shall be subject to and governed by the MLS® rules and regulations pertaining to commission trusts of the Listing Brokerage’s local real estate board, if the local board’s MLS® rules and regulations so provide.

  • The Fresno County Auditor-Controller/Treasurer-Tax Collector (FCACTT) provides maintenance of the Commission Trust Fund held by the County for the Commission.

  • For the purpose of this Commission Trust Agreement, the Commission Trust Amount shall be the amount noted in Section 3 above.

  • The Commission Trust Account (trust account) is maintained by the County Auditor- Controller/Treasurer-Tax Collector for the Commission.

  • The Listing Brokerage hereby declares that all monies received in connection with the trade shall constitute a Commission Trust and shall be held, in trust, for the Co-operating Brokerage under the terms of the applicable MLS® rules and regulations.

Related to Commission Trust

  • Litigation Trust means the trust to be established on the Plan Implementation Date at the time specified in section 6.4(p) in accordance with the Litigation Trust Agreement pursuant to the laws of a jurisdiction that is acceptable to SFC and the Initial Consenting Noteholders, which trust will acquire the Litigation Trust Claims and will be funded with the Litigation Funding Amount in accordance with the Plan and the Litigation Trust Agreement.

  • Delaware Business Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq., as it may be amended from time to time.

  • Business Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq., as it may be amended from time to time, or any successor legislation.

  • General Special Servicer mean the Person performing the duties and obligations of special servicer with respect to the Mortgage Pool (exclusive of (A) any Serviced Loan Combination or related REO Property as to which a different Loan Combination Special Servicer has been appointed with respect thereto and (B) any Excluded Special Servicer Mortgage Loan or any related REO Property as to which an Excluded Mortgage Loan Special Servicer has been appointed with respect thereto).

  • Securitization Trust means a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

  • Individual Resource Status: Single Dwelling Contributing 1 Total: 1 Individual Resource Status: Shed Contributing 1 Total: 1 Primary Resource Information: Single Dwelling, Stories 1.00, Style: Queen Anne, ca 1895 February 2007: This Queen Anne style house has aluminum siding on a wood frame. The foundation is not visible. There is a 1 story 3 bay porch with turned wooden posts. The windows are 1/1 double hung vinyl. The roof is an aluminum false mansard. 2313 T Street, 2315 T Street, 2317 T Street, and 2319 T Street comprise a series of houses built on the same design, nearly identical to those found around the corner in the 1300 block of 24th Street. The design is two bays, one story, frame, with a false mansard roof. All four retain original Queen Anne style lathe-turned porch posts. All but 2313 have original wood sash 1/1 windows, while 2313 has vinyl replacements. 2319 has Inselstone siding, and 2313 has aluminum siding, while the two center houses (2315 and 2317) appear to have recently been restored to their original wood siding, which is double covelap. The original pressed metal shingles are still in place in the false mansard of 2319, while the mansard at 2313 has siding over the mansard; the two houses in between (2315 and 2317) have some kind of slate or wood shingle that has been painted in the mansards.

  • the Eileen Trust means the charitable trust of that name established on 29th March 1993 out of funds provided by the Secretary of State for the benefit of persons eligible for payment in accordance with its provisions;

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Business Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code ss. 3801 et seq., as the same may be amended from time to time.

  • Community land trust means a community housing development organization whose (i) corporate

  • Statutory Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq., as the same may be amended from time to time.

  • Virginia real estate investment trust means a real estate investment trust, as defined in 26 U.S.C.

  • state trust land means land owned by the state-

  • Litigation Trustee means a Person to be determined by SFC and the Initial Consenting Noteholders prior to the Effective Time, with the consent of the Monitor, to serve as trustee of the Litigation Trust pursuant to and in accordance with the terms thereof.

  • the Academy Trust means the company intended to be regulated by these Articles and referred to in Article 2;

  • the Macfarlane (Special Payments) Trust means the trust of that name, established on 29th January 1990 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia;

  • Real estate investment trust means any corporation, trust or association qualifying and electing to be taxed as a real estate investment trust under federal law.

  • Statutory Trust Statute means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq.

  • Litigation Trust Agreement means the trust agreement dated as of the Plan Implementation Date, between SFC and the Litigation Trustee, establishing the Litigation Trust.

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • Subchapter S Corporation (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of stock of Borrower, or (d) purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Titling Trust means GE TF Trust, a Delaware statutory trust.

  • Public trust or “trust” means the common law public trust for commerce, navigation, and fisheries.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Delaware Trust Statute means the Delaware Statutory Trust Act, Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq., as the same may be amended from time to time.