A New Mexico broker asks about a qualifying broker receives money belonging to others in a real estate transaction. What is the best answer?
Correct Answer
C) The money must be deposited only in a properly designated trust account at an acceptable financial institution unless another rule-approved arrangement applies
New Mexico trust-account rules require proper handling of money belonging to others. Source basis: 16.61.23 NMAC, Trust Accounts: trust account designation, records, deposits, disbursements, and commingling; checked 2026-04-30.
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The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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