Money held for a client must be "deposited" into a "trust fund account" within three days of being "received".
These are questions that the above text answers:
1. What is the time frame for depositing client funds into a trust fund account?
2. How long does a real estate agent have to deposit money received from a client into a trust fund account?
3. What is the requirement for timely deposit of client funds into a trust fund account?
4. What type of account should client funds be deposited into?
5. What happens if client funds are not deposited into a trust fund account within the specified time frame?
6. What is the consequence of failing to deposit client funds into a trust fund account within three days?
7. What is the responsibility of a real estate agent regarding client funds and trust fund accounts?
8. How does the escrow closing process relate to the timely deposit of client funds into a trust fund account?