Commingle

Combining clients’ money with a broker’s personal money in the same account.  When a broker is holding someone else’s funds in escrow (for example, a tenant’s security deposit), they are required by law to deposit those funds into a separate account from any accounts containing the broker’s funds.  Failure to do so, known as “commingling of funds,” is grounds for the revocation of the broker’s license to practice real estate.

Related posts:

  1. Closing Statement (HUD1)
  2. Canons of Professional Ethics and Conduct
  3. A.P.R. (Annual Percentage Rate)
  4. Agency