A broker wants to transfer tenants's security deposits to an interest bearing account to raise money for purchasing playground equipment. Is this action permissible?
A. Yes, security deposits can be used for maintenance of the property.
B. Yes, upon securing a written agreement signed by all parties, indicating to whom the broker shall pay any interest.
C. No, security deposits are credited to the owner.
D. No, security deposits cannot be used for property improvements.
Answer: B. Yes, upon securing a written agreement signed by all parties, indicating to whom the broker shall pay any interest.
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