legaldeposit
nounUK /ˈliːɡəl dɪˈpɒzɪt/
US /ˈliːɡəl dɪˈpɑːzɪt/
Money you give to hold something safely until a deal is done.
The renter paid a legal deposit before moving into the apartment.
OTHER MEANINGS
2. Money held by a bank or court as proof of a legal promise.
The court kept the legal deposit until the case was closed.
3. A required payment made to start a legal agreement.
They made a legal deposit to reserve the property.
4. Funds set aside by law to cover possible damage or loss.
The company set aside a legal deposit for future repairs.