Under TREC rules, a broker who manages rental properties for multiple owners must handle security deposits properly. Where must these security deposits be held?
Correct Answer
D) In the broker's real estate trust account, separate from personal and operating funds
Under TREC rules, security deposits received in connection with property management must be held in the broker's trust account, separate from personal and operating funds. This ensures the deposits are properly safeguarded and accounted for.
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