License Law & RulesPregunta 29 de 120
Escrow funds held by a broker must generally be:
a.Kept in a separate trust or escrow account, not commingled with the broker's own funds
b.Deposited into the broker's personal checking account
c.Immediately paid to the seller upon receipt
d.Loaned to the buyer for closing costs
Explicación
Brokers must place escrowed funds, such as earnest money deposits, into a designated trust or escrow account and must not commingle them with personal or operating funds. Florida law sets specific timeframes for deposit. Improper handling of escrow funds is a common cause of discipline.
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- Under Florida law, a sales associate must perform licensed real estate activities under the supervision of:
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