Mississippi Real Estate Commission

C. Accurate records…

< All Topics
  1. Accurate records shall be kept on escrow accounts of all monies received, disbursed, or on hand.  All monies shall be individually identified as to a particular transaction. Escrow records shall be kept in accordance with standard accounting practices and shall be subject to inspection at all times by the Commission.

Monies received in a trust account on behalf of clients or customers are not assets of the broker; however, a broker may deposit and keep in each escrow account or rental account some personal funds for the express purpose of covering service charges and other bank debits related to each account.

Previous B. When the broker is the agent for the seller…
Next D. If a broker, as escrow agent,…
Table of Contents