AgencyMEDIUM
Who dictates trust accounts and when to deposit earnest money or other trust funds?
Correct Answer
A) State Specific License Law
Each state's license law dictates trust account requirements and deposit timelines.
Answer Options
A
State Specific License LawB
The Brokerage FirmsC
Federal LawD
County LawVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
real-estate-trust-accountsearnest-money-depositsreal-estate-license-regulationscommingling-funds
Key Terms:
trust accountstate license lawNew York Real Property Law Article 12-Aearnest money depositescrow commingling
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