Pennsylvania License Law
In Pennsylvania, within how many days must a broker deposit earnest money into their escrow account?
A1 banking day
B3 banking days✓ Correct
C5 banking days
D10 banking days
Explanation
Pennsylvania requires brokers to deposit earnest money into an escrow or trust account within 3 banking days of receipt. Failure to properly handle escrow funds is a serious violation of RELRA.
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