Tag: trust funds

DRE Hot Seat: Designated officer assumes responsibility over mismanaged brokerage

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.

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

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.

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