All of the following information must be included in escrow account records EXCEPT:
Correct Answer
D) Social Security number of all parties
Social Security numbers are not required information for escrow account records, though they may be maintained for other purposes. Options A, B, and D are all required: records must show dates of all transactions, identify depositors and payees, and reference the related property to maintain proper accountability.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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