In New Mexico, a qualifying broker receives money belonging to others in a real estate transaction. Which statement is correct?
Correct Answer
D) 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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