What is the maximum amount of time a real estate brokerage can hold client funds in a trust account before depositing them?
Correct Answer
A) Same business day or next business day
Trust funds must be deposited into the designated trust account on the same business day they are received, or if received after banking hours, by the end of the next business day. This requirement ensures client funds are properly safeguarded and prevents commingling with brokerage operating funds.
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