Can a broker deposit earnest money and security deposits into an interest bearing trust account?
A. No, the law requires that it be deposited into a non-interest bearing trust account.
B. No, earnest money must be held by the seller or builder.
C. Yes, providing the broker notifies the Georgia Real Estate Commission of the location and name of the account.
D. Yes, providing all parties to each transaction specifically agree inn writing who is to receive any interest earned prior to depositing the funds.
Answer: D. Yes, providing all parties to each transaction specifically agree inn writing who is to receive any interest earned prior to depositing the funds.
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