Dictionary Definition
commingle
Verb
1 mix or blend; "His book commingles sarcasm and
sadness"
2 mix together different elements; "The colors
blend well" [syn: blend,
flux, mix, conflate, immix, fuse, coalesce, meld, combine, merge]
User Contributed Dictionary
English
Alternative spellings
Pronunciation
- Rhymes: -ɪŋɡəl
Extensive Definition
Commingling literally means "mixing together".
Used in a legal context it is a breach of
trust in which a fiduciary mixes funds that he
holds in the care of a client with his own funds, making it
difficult to determine which funds belong to the fiduciary and
which belong to the client. This raises particular concerns where
the funds are invested, and gains or losses from the investments
must be allocated. In such circumstances, the law usually presumes
that any gains run to the client and any losses run to the
fiduciary who is guilty of commingling.
The problem of commingling is of particular
concern in the legal profession. Attorneys are
strictly prohibited from commingling their clients funds with their
own, and such activity is grounds for disbarment in virtually every
jurisdiction, because of the ease of embezzlement and the
difficulty of detection. Similar rules apply for licensed real
estate brokers handling earnest
money and other professionals who hold deposits as agents for
clients in absentia.
Commingling is also evidence that may be used in
"piercing
the corporate veil" of a sham corporation, where a person
vainly attempts to shield himself from personal liability through
"incorporation", yet fails to observe strict separation of
corporate and personal property or accounts, among other
improprieties.
Community property
In community property states of the United States, "commingling" non-marital property with marital property can make it community property. For example, depositing money received by an individual through inheritance – ordinarily considered non-marital, individual property – into a joint bank account may transform the money into community property. Most community property states apply a presumption of community property; where there is any commingling the burden of proof is on the party disputing the classification to "trace" the property back to individual property, and demonstrate an intent to keep it separated.commingle in Japanese: 混同
Synonyms, Antonyms and Related Words
admix,
alloy, amalgamate, bemingle, blend, coalesce, combine, commix, compose, compound, concoct, conglomerate, emulsify, fuse, hash, homogenize, immingle, immix, integrate, interblend, interlace, interlard, intermingle, intermix, intertwine, interweave, jumble, knead, merge, mingle, mingle-mangle, mix, mix up, scramble, shuffle, stir up, syncretize, throw together,
toss together, unify,
work