Property Management
A NJ property manager who receives an owner's funds but fails to disburse them to the proper parties or account for them is guilty of:
APuffing
BConversion✓ Correct
CCommingling only
DSteering
Explanation
Conversion is the misappropriation or unauthorized use of another person's funds or property. Failing to properly disburse or account for client funds is conversion—a serious violation of fiduciary duty and NJ license law.
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