Indiana License Law
Indiana's Real Estate Commission requires that trust account records include which of the following?
AOnly the total balance
BLedgers for each client's funds, bank statements, reconciliations, and all deposit and disbursement records✓ Correct
COnly incoming deposits
DOnly disbursements made
Explanation
Complete trust account records must include individual client ledgers (tracking each client's funds), bank statements, monthly reconciliations, and all deposit and disbursement documentation — allowing the IREC to verify proper handling of client funds.
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Key Terms to Know
Math Concepts
State-Specific Concepts
Trust Account Rules
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