Trust Funds
Commingling in real estate refers to:
AMixing personal funds with client funds in a trust account✓ Correct
BCombining two separate listings into one
CSharing a commission with an unlicensed person
DRepresenting both buyer and seller in one transaction
Explanation
Commingling is the illegal practice of mixing a broker's personal or operating funds with client funds held in trust.
Related Alabama Trust Funds Questions
- Under AREC rules, how quickly must a broker deposit earnest money or other trust funds after receipt?
- In Alabama, a qualifying broker's trust account must be reconciled:
- AREC's trust account audit authority is intended primarily to:
- Interest earned on Alabama broker trust accounts typically:
- How long must Alabama brokers retain trust account records?
- Which of the following is the correct treatment of interest earned on an Alabama broker's trust account?
- Which of the following is permissible in an Alabama broker's trust account?
- If a buyer's offer is accepted by the seller and the buyer's check for earnest money is returned by the bank as NSF (non-sufficient funds), the broker should:
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