All funds belonging to others, related to property purchase, such as __________ ______ deposits, must be deposited into the broker's or closing entities trust account not later than __ _________ days following the broker's notice of contract _________.
earnest money 3 business days acceptance.
All funds belonging to property management must be deposited in the property management accounts within __ business days.
*Trust accounts must be _________ at least monthly.*
In the absence of a contract to the contrary, if the Contract to Buy is completed, or the earnest money is _________ .... accrued interest, if any, belongs to the _________.
If the contract fails, the earnest money and interest normally belong to the _______ (buyer/seller).
Unclaimed trust funds are paid to the ________ of the State of Colorado under the ________ _______ Act.
treasurer Unclaimed Property
The broker may release funds when:
- in receipt of a final judgement for ____________,
-there is a final decision of a binding _______ ________,
- or when a _________ action has been filed.
The broker must retain the following records for how long after closing?
- Contract to Buy & Sell (purchase agreement)
- Residential Property Disclosure
- Lead-based Paint Disclosure (if built before what year?)
4 years for all