Wyoming License Law
Under Wyoming license law, commingling means:
AMixing properties in the same listing presentation
BMixing client trust funds with the broker's personal or operating funds✓ Correct
CCombining multiple listings in a single advertisement
DUsing one license to represent both a buyer and seller
Explanation
Commingling is the illegal practice of mixing client funds (earnest money, security deposits) with the broker's personal or operating funds. All client funds must be maintained in separate, designated trust accounts.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Math Concepts
State-Specific Concepts
Trust Account RulesLicense Law
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