In a Hawaii real estate transaction, a salesperson receives earnest money, rent, or another trust property. What should the licensee remember?
Correct Answer
C) The salesperson receives it on behalf of the principal broker or broker-in-charge and must deliver it by the next business day unless the depositor gives a different written instruction
HAR 16-99-4 requires salesperson-held trust property to be delivered to the principal broker or broker-in-charge by the next business day unless otherwise instructed in writing by the depositor. Source basis: Hawaii DCCA PSI state outline hi.III Property Management plus official HRS chapter 521 and HAR title 16 chapter 99 trust-property rules; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
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