Under TREC rules, Broker Adams manages properties for 10 different landlords. She collects rent from tenants and deposits it into her trust account. Under TREC rules, how must Adams handle the accounting for these funds?
Correct Answer
B) Adams must maintain separate ledger accounts for each property owner showing all deposits and disbursements
Under TREC rules, the broker must maintain separate ledger accounts (subsidiary records) for each property owner showing all deposits and disbursements. While all funds may be in one trust account, the records must clearly identify which funds belong to each owner.
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