Property Management
A Mississippi property manager receives a security deposit and earnest money in the same month. These funds must be:
ADeposited into the same account for convenience
BKept in separate trust accounts: security deposits in a residential security deposit account and earnest money in the real estate trust account✓ Correct
CHeld in cash by the property manager
DSent directly to the property owner
Explanation
Security deposits and earnest money are different types of trust funds. Best practice (and often required by law) is to maintain separate trust accounts for security deposits and for earnest money/real estate transaction funds, and to keep all trust funds separate from operating funds.
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