A broker must "keep" a "trust fund account" that is "separate" from their "business account" to make sure that money is not mixed together or moved from one account to the other.
These are questions that the above text answers:
1. What is the purpose of a trust fund account in real estate?
2. Why is it important for a broker to keep a trust fund account separate from their business account?
3. What is the consequence of mixing money from a trust fund account with a business account?
4. What is the responsibility of a broker regarding the management of client funds?
5. What is the significance of separating trust funds from business accounts in real estate?
6. What is the purpose of securing client funds in real estate transactions?
7. What is the role of a trust fund account in real estate recordkeeping?
8. What happens if a broker fails to keep a trust fund account separate from their business account?
9. How does a broker ensure that money is not moved between a trust fund account and a business account?
10. What is the requirement for a broker to maintain a trust fund account in real estate transactions?