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Financial Responsibility (Utah) Updated 2024/2025 Verified 100%
Deposits - *Must deliver to the broker and deposit earnest money (or any money) into a trust account either*: • within 3 business days or • within 4 calendar days after acceptance as stated in the REPC, or as otherwise noted in the REPC. Broker will have a non-interest bearing trust account and an interest bearing trust account. The interest on the one account will go to the Utah Affordable Housing program. *Must be reconciled monthly* *Unlimited number of trust accounts* Real Estate...
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Financial Responsibility (Utah) Exam Questions With 100% Verified Answers
Popular©BRAINBARTER 2024/2025 Financial Responsibility (Utah) Exam Questions With 100% Verified Answers Real Estate Trust Account - answerAn *account for holding other people's money that is set up with a state approved depository.* The principal broker is personally responsible for this account and all monies. Trust account is to be non-interest bearing unless the parties agree in writing (wording in the REPC). Broker will have a non-interest bearing trust account and an interest bearing tru...
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