Property Management
A New Hampshire property manager should place security deposits in:
AThe property manager's personal savings account
BA separate trust or escrow account as required by RSA 540-A✓ Correct
CThe owner's general operating account
DA safe at the management office
Explanation
NH law requires security deposits to be held in a separate, interest-bearing bank account in New Hampshire. Commingling security deposits with operating funds is prohibited.
People Also Study
Related New Hampshire Questions
- Under New Hampshire law, a real estate broker must maintain a trust account separate from operating funds primarily to:New Hampshire License Law
- A New Hampshire broker who holds client funds in their trust account and uses those funds for personal expenses has committed:New Hampshire License Law
- A New Hampshire landlord who requires a higher security deposit from a tenant because of their national origin has violated:Fair Housing
- If a NH buyer pays their buyer's agent directly for services, the broker's duty to account for the funds requires:New Hampshire License Law
- A New Hampshire property manager who collects rents and negotiates leases on behalf of another must hold a:Property Management
- Under the New Hampshire Landlord-Tenant Act (RSA 540), the maximum security deposit a landlord may collect is:Property Management
- A New Hampshire landlord must return a security deposit within how many days after the tenancy ends?Property Management
- The Americans with Disabilities Act (ADA) Title III requires that New Hampshire commercial properties open to the public:Property Management
Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →