Trust money must be deposited in a trust account or delivered to an authorized escrow agent within what timeframe after receipt?

Trust money, which may include earnest money, must be handled in accordance with specific regulations to ensure proper management and accounting for clients' funds. In Texas, the regulations clearly state that trust money must be deposited into a trust account or delivered to an authorized escrow agent within the second working day following the receipt of the funds. This requirement is crucial as it provides protection to the parties involved in a transaction by ensuring that funds are safeguarded and accounted for in a timely manner. The emphasis on this timeframe is to maintain professionalism and integrity in real estate transactions and to safeguard consumers' interests.

By adhering to the rule of depositing or delivering trust money within this specified timeframe, real estate brokers help to minimize the risk of misappropriation or errors related to client funds, thereby reinforcing trust in the brokerage industry.