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Brokers of record have a wide range of responsibilities, some of the most serious of which involve escrowed money. Regardless of how it is described – hand money, good faith money, down money – it is money belonging to another. The Rules and Regulations interpreting the broker’s responsibility are fairly strict, fairly broad and...
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Two substantial changes to the Real Estate Licensing and Registration Act (RELRA) go into effect on September 4, 2009. PAR President Greg Herb discusses the changes to the escrow rules that apply to real estate licensees.
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A legal hotline caller was concerned with the obligation to deposit a second deposit check into the escrow account the next business day because she worked out of a branch office approximately 20 miles from the main office.
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Tuesday, Feb. 7, 2012
