Pennsylvania Code
Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS
Part I - DEPARTMENT OF STATE
Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS
Chapter 35 - STATE REAL ESTATE COMMISSION
Subchapter E - STANDARDS OF CONDUCT AND PRACTICE
ESCROW REQUIREMENTS
Section 35.328 - Escrow records

Universal Citation: 49 PA Code ยง 35.328

Current through Register Vol. 54, No. 44, November 2, 2024

A broker shall keep records of monies received by him that are required to be held in escrow and shall produce the records for examination by the Commission or its authorized representatives upon written request or pursuant to an office inspection under § 35.246 (relating to inspection of office). The records shall contain:

(1) The name of the party from whom the broker received the money.

(2) The name of the party to whom the money belongs.

(3) The name of the party for whose account the money is deposited.

(4) The date the broker received the money.

(5) The date the broker deposited the money into the escrow account.

(6) The date the broker withdrew the money from the escrow account.

The provisions of this §35.328 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).

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