trust funds | firsttuesday Journal

Trust Account Management

by ft Editorial Staff | Mar 26, 2023 | Features, Real Estate, Video | 0

Management of trust funds deposited into a non-interest-bearing or interest-bearing trust account.

Penalties for Misuse of Trust Funds

by ft Editorial Staff | Feb 6, 2023 | Feature Articles, Real Estate, Video | 0

This video covers the penalties for misusing trust funds and when individuals can satisfy a judgment against a broker through the Real Estate Recovery Account.

Dear Broker: Handling trust funds is like playing with fire

by Guest Author Summer Goralik | Jan 12, 2023 | Laws and Regulations, Real Estate, Your Practice | 1

Real Estate Compliance Consultant Summer Goralik outlines the inherent risks real estate professionals face when handling trust funds and how to counter them.

DRE Hot Seat: Broker frauds his landlord client and tenant

by Amy Perry | Sep 30, 2022 | Fundamentals, Licensing and Education, Property Management, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the California real estate license of a broker acting as a property manager who charged the tenant a greater amount than was paid to the landlord.

DRE Hot Seat: Trust funds are held “in trust” and belong to another

by Amy Perry | Sep 1, 2022 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

DRE Hot Seat: Designated officer assumes responsibility over mismanaged brokerage

by Amy Perry | Jul 27, 2022 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) restricted the California real estate license of a broker who failed to properly supervise and maintain trust funds and trust fund records as the designated officer of a property management company.

DRE Hot Seat: Broker conceals their own non-licensed escrow service while commingling trust funds

by Amy Perry | Apr 25, 2022 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the California real estate license of a broker who commingled their client’s funds with their personal account and used themselves, operating under an unapproved fictitious business name, as the escrow service without informing the client.

DRE Bulletin Digest Summer 2021

by ft Editorial Staff | Sep 7, 2021 | Licensing and Education, Real Estate | 0

A review of the Summer 2021 DRE Real Estate Bulletin.

DRE Hot Seat: Making substantial misrepresentations constitutes dishonesty

by Amy Perry | Aug 30, 2021 | Laws and Regulations, Property Management, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the California real estate license of a broker who made substantial misrepresentations to his clients, mishandled a trust account, and more.

Brokerage Reminder: Disbursement of funds when a transaction fails

by ft Editorial Staff | Jun 23, 2020 | Brokerage Reminder, Fundamentals, Real Estate | 3

Keep yourself informed about the rules surrounding disbursement of funds held in escrow after a failed transaction.

Brokerage Reminder: Trust fund(amentals)

by ft Editorial Staff | Jun 8, 2020 | Brokerage Reminder, Fundamentals, Real Estate | 2

Brush up on the basics of trust fund rules and regulations.

DRE Hot Seat: Sitseefly, Inc.

by Benjamin J. Smith | Jan 7, 2020 | Real Estate | 0

This article is part of an ongoing series covering violations of real estate law. Here, a corporation refused to cooperate with the DRE’s audit request.

Maintaining Trust Account Integrity

by ft Editorial Staff | Dec 31, 2019 | Real Estate, Video | 0

A broker’s detailed records which track their receipt and disbursement of trust funds

Advance Fees are Trust Funds

by ft Editorial Staff | Dec 10, 2019 | Real Estate, Video | 0

The proper handling of broker fees deposited with the broker before they are earned

Advance Costs are Trust Funds

by ft Editorial Staff | Dec 4, 2019 | Real Estate, Video | 0

The proper handling of costs advanced by a seller to a broker to market their property and acquire property reports

Fall 2019 DRE Bulletin Digest

by Benjamin J. Smith | Nov 19, 2019 | Real Estate | 0

A review of the Fall 2019 DRE Real Estate Bulletin.

DRE Hot Seat: TD Holdings I Inc.

by Benjamin J. Smith | Sep 25, 2018 | Real Estate, Your Practice | 1

This article is part of an ongoing series covering violations of real estate law. Here, a corporation deposited trust funds improperly and late — and was fined by the DRE.