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  3. Law: Contract(s)

Registro somme e valori

English translation: escrow (UK: stakeholder money & securities) account record

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:Registro somme e valori
English translation:escrow (UK: stakeholder money & securities) account record
Entered by: mileli

17:43 Nov 18, 2019
Italian to English translations [PRO]
Law/Patents - Law: Contract(s) / in un atto notarile
Italian term or phrase: Registro somme e valori
E' il Registro nel quale, in un atto di compravendita immobiliare l'acquirente effettua, prima della data dell'atto, un bonifico per il saldo del prezzo sul conto corrente dedicato tenuto dal Notaio affinché questi possa poi versarlo al venditore.
mileli
Local time: 17:54
escrow (UK: stakeholder money & securities) account record
Explanation:
Escow in the UK is the holding of deeds and docs. subject to a condition, such as payment of the pruchase price of land.

For cash & securities in the UK it is called a stakeholder a/c onwhich the term of purchase funds or sale proceeds and securities or valuables arguably need not be spelled out.
Selected response from:

Adrian MM.
Austria
Grading comment
thank you very much
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2escrow (UK: stakeholder money & securities) account record
Adrian MM.
4Deposit of sale price and other expenses register
Alison Kennedy


  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Deposit of sale price and other expenses register


Explanation:
This register was introduced by Law 124/2017 (I think) ...

Alison Kennedy
Italy
Local time: 17:54
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 320
Notes to answerer
Asker: Thank you very much, Alison

Login to enter a peer comment (or grade)

40 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
escrow (UK: stakeholder money & securities) account record


Explanation:
Escow in the UK is the holding of deeds and docs. subject to a condition, such as payment of the pruchase price of land.

For cash & securities in the UK it is called a stakeholder a/c onwhich the term of purchase funds or sale proceeds and securities or valuables arguably need not be spelled out.

Example sentence(s):
  • US: Escrow accounts are a subset of what accountants call restricted cash. Suppose you run a bank that opens an escrow account for a homebuyer. They deposit enough at the start of the year to cover mortgage payments and property taxes, then the payments c
  • UK: Solcitors\' account rules > Rule 24: Interest on stakeholder money 24.1 When you hold money as stakeholder, you must pay interest on the basis set out in rule 22 to the person to whom the stake is paid, unless the parties have contracted out.

    Reference: http://bizfluent.com/info-11384335-accounting-treatment-escr...
    Reference: http://www.sra.org.uk/solicitors/handbook/accountsrules/part...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 128
Grading comment
thank you very much

Peer comments on this answer (and responses from the answerer)
agree  Rosanna Palermo
1 hr
  -> Grazie and thanks again!
agree  Tony Keily: this is right but maybe use "notary's escrow register": i.e. register instead of record, and metnion the notary since we are dealing with a notarial register among registers (repertori).
14 hrs
  -> Thanks and grazie. The reason I didn't preface my answer with notarial is to dodge criticisms - albeit more prevalent out of FRE/ESP & DEU - of making the turn of phrase 'too long'.
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