"Commingling" is the act of mixing your own money with money belonging to a client or another third party, such as not cashing a deposit check. "Conversion" is when a broker uses the client's money for their own personal gain.
These are questions that the above text answers:
1. What is the definition of "commingling" in real estate law?
2. How is "conversion" defined in the context of real estate law?
3. What are the potential dangers of commingling money in real estate transactions?
4. How does conversion differ from commingling in real estate law?
5. Can a broker be held legally responsible for commingling client funds?
6. What are some examples of commingling in real estate transactions?
7. What are the consequences of conversion in real estate law?
8. How can brokers avoid the risks of commingling and conversion?
9. Is it permissible for a broker to use a client's money for personal gain?
10. What actions can clients take if they suspect their broker has engaged in conversion?