A broker in Ohio receives an earnest money deposit from a buyer on Friday afternoon. Under Ohio law, the broker must deposit the funds into the trust account within:
Correct Answer
D) 2 banking days of receipt
Under Ohio law, a real estate broker must deposit earnest money and other trust funds into the trust (escrow) account within 2 banking days of receipt. This is a key Ohio-specific requirement that differs from some other states.
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More Oh Division Of Re Rules Disciplinary Process Questions
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