Legal Definitions - monies

Monies refers to sums of money, often specific or distinct amounts, especially when they are collected, held, or disbursed for particular purposes or by different entities. It emphasizes the plural nature of funds, often implying a collection of financial assets rather than the abstract concept of money.

• Example 1: Real Estate Escrow

  A real estate attorney placed the buyer's earnest money deposit and other closing costs into a separate escrow account. These monies would be held securely until the property sale was finalized.

  Explanation: Here, "monies" refers to the distinct sums – the earnest money deposit and the various closing costs – that are being held separately and specifically for the real estate transaction, rather than just general cash.

• Example 2: Public Funds Management

  The city's finance department was tasked with tracking the various monies received from property taxes, parking fines, and business licenses, ensuring each was allocated to its designated municipal fund.

  Explanation: This illustrates "monies" as different categories of funds, each originating from a specific source (taxes, fines, licenses) and earmarked for particular uses within the city's budget.

• Example 3: Investment Portfolio

  An investment firm manages separate monies for its clients, each invested according to individual risk profiles and long-term financial goals.

  Explanation: In this scenario, "monies" refers to the distinct financial assets or funds belonging to each client, which are managed separately and uniquely within the firm's overall operations.