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Definition of 'Commingling (Commingled)'
1. In securities, it is the mixing of customer-owned securities with brokerage-owned securities.
2. In trust banking, it is the pooling of individual customer accounts into a fund, a share of which is owned by each contributing customer. This is similar to a mutual fund.
3. In real estate, it is the illegal act of a broker combining clients' funds with personal funds because, by law, a broker is required to use a separate trust or escrow fund to temporarily hold a client's funds.
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