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Updated over 14 years ago on . Most recent reply

A W's profile image
A W's profile image
A W
  • Member since Mar 8, 2011

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A W's profile image
A W's profile image
A W
  • Member since Mar 8, 2011
A W
0
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22
Posts
General Landlording & Rental Properties

How to setup a trust account?

A W
Posted

Hi,

NC State law requires that security deposit must be put into a separate trust account:
http://www.ncga.state.nc.us/EnactedLegislation/Statutes/HTML/BySection/Chapter_42/GS_42-50.html

Could anyone explain how to set up a trust account? Who will be the trustee? and who will be the beneficiary?

Thanks!

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