When a real estate salesperson accepts money from someone else in connection with a deal that needs a license, they have to deliver the money right away to the broker, or, if directed to, deposit it in the broker's trust fund account, give it to the broker's principal, or deliver it to an impartial escrow depository.
Due to their relationship, linked parties are able to conduct transactions that are prohibited for unrelated parties. Even while every "related party transaction" involves a related party, not every deal involving related parties falls under the category of "related party transactions."
A real estate salesperson who takes trust funds from third parties on the broker's behalf for whom they have a license must give the cash to the broker right away otherwise, Upon request, deliver them to the principle of the broker or a neutral escrow depository, or deposit them in the broker's trust fund account.
For more information on real estate agents, see brainly.com/question/13401175
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