Final answer:
When someone mixes escrow funds with their business account, it is called commingling of funds. Commingling of funds refers to the improper blending of personal and business finances, specifically in the case of escrow funds meant to be held separately for a specific purpose.
Step-by-step explanation:
When someone mixes escrow funds with their business account, it is called commingling of funds. Commingling of funds refers to the improper blending of personal and business finances, specifically in the case of escrow funds meant to be held separately for a specific purpose.
Commingling of funds is a practice that can lead to legal and financial consequences. For example, if someone were to mix escrow funds with their business account, it could cause complications in properly allocating the funds for their intended purpose, such as paying off property taxes or insurance.