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LSDefine
Simple English definitions for legal terms
commingle
Read a random definition: due diligence defense
A quick definition of commingle:
Term: Commingle
Definition: Commingle means to mix things together. For example, when a husband and wife combine their money, they commingle their funds. It can also mean when someone who is responsible for taking care of someone else's money mixes it with their own. This is not a good thing to do because it can be hard to keep track of whose money is whose.
A more thorough explanation:
Definition: To mix together different funds or properties into one mass. This can happen when a spouse mixes their separate property with marital or community property, or when a fiduciary mixes their personal funds with those of a beneficiary or client.
Examples:
- A husband and wife commingle their separate bank accounts into a joint account.
- A financial advisor commingles their personal funds with those of their client.
These examples illustrate how commingling can occur in different situations. In the first example, the husband and wife are combining their separate funds into one account, which can make it difficult to distinguish which funds belong to each spouse. In the second example, the financial advisor is mixing their own money with their client's money, which is a breach of trust and can lead to legal consequences.