SUMMARY
We might say this chapter presents the three R's of trust funds: Responsibility, Requirements, and Records.
It is a real estate broker’s responsibility to protect clients’ funds at all times and keep clients fully informed of
the nature and disposition of all trust funds.
To aid brokers in carrying out this responsibility, the Real Estate Commissioner’s Regulations include
requirements concerning trust funds. A real estate broker also needs to meet other requirements from a practical
business point of view. To protect clients’ funds adequately and in the business-like fashion expected, the broker
must keep accurate records.
RE 4522 (Rev. 5/10) EXHIBIT 1