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Updated almost 14 years ago, 04/03/2011

A W's profile image
A W's profile image
A W
  • Member since Mar 8, 2011
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A W
  • Member since Mar 8, 2011
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A W
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22
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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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