Commingling: The illegal act of mixing deposits or monies belonging to a client (trust funds) with ones personal money. By law brokers are required to maintain a separate trust or escrow account for other parties funds held temporarily by the broker.

 

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Commingling: The illegal act of mixing deposits or monies belonging to a client (trust funds) with ones personal money. By law brokers are required to maintain a separate trust or escrow account for othe . . . View Full Definition

Identity Preserved (IP): This is the designation given to bulk commodities marketed in a manner that isolates and preserves the identity of a shipment, presumably because of unique characteristics that have value ot . . . View Full Definition

Accounting: The agent must be able to report the status of all funds received from or on behalf of the principal. Most state real estate license laws require a broker to give accurate copies of all docu . . . View Full Definition