Practice Of Real EstateTrec RulesMEDIUM
TREC requires brokers to maintain a trust account when:
Correct Answer
C) When holding funds belonging to others
Brokers must maintain a trust account whenever they hold funds belonging to others.
Answer Options
A
Always, regardless of activityB
Only when holding earnest moneyC
When holding funds belonging to othersD
Only for commercial transactionsAudio Lesson3 min
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Related Topics & Key Terms
Related Topics:
trec-record-keeping-requirementsreal-estate-trust-account-procedurescommingling-funds-violations
Key Terms:
TREC trust account22 TAC § 535.146comminglingfunds belonging to othersbroker fiduciary duty
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