Escrow or Trustee Account of Deposited Funds

  1. Law
  2. Tennessee Code
  3. Professions, Businesses and Trades
  4. Tennessee Real Estate Broker License Act of 1973
  5. Qualifications and Licensing
  6. Escrow or Trustee Account of Deposited Funds

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Every broker shall, in accordance with rules promulgated by the commission under §62-13-203, keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing:

  1. The depositor of the funds;
  2. The date of deposit;
  3. The date of withdrawal;
  4. The payee of the funds; and
  5. Other pertinent information that the commission may require.


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