California · Chapter 39 of 59
Trust Account Management
Trust funds, commingling, conversion, trust account requirements, and the 3-business-day deposit rule.
25-minute read · Built for the DRE Salesperson Exam
trust accounttrust fundscomminglingconversion3 business daystrust fund ledgerreconciliation
What Are Trust Funds
Trust funds are money or items of value received by a licensee in a transaction that do not belong to the licensee. This includes: earnest money deposits, rent collected for property owners, security deposits, funds for buying/selling property on behalf of a client, and loan payments collected for lenders.
B&P Code §10145, CCR §2830
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