Wisconsin Administrative Code
Real Estate Examining Board
Chapter REEB 18 - Trust Accounts
Section REEB 18.09 - Disbursement of trust funds
Current through February 26, 2024
(1) PROPER DISBURSEMENT. A firm who disburses trust funds from the firm's real estate trust account under any of the following circumstances shall not be deemed to have violated s. 452.14(3) (i), Stats.:
(2) NOTIFICATION OF DISBURSEMENT. Prior to making a disbursement of trust funds under sub. (1) (a) where the firm has knowledge that not all parties agree that the rejection or withdrawal occurred prior to binding acceptance, and prior to making a disbursement under sub. (1) (e) , (f), and (g) where the firm has knowledge that either party disagrees with the disbursement, the firm shall attempt to notify all parties in writing of the intent to disburse. The notice shall be delivered by certified mail to the parties' last known addresses and shall state to whom and when the disbursement will be made. The disbursement may not occur until 30 days after the date on which the notice is sent.
(3) WITHDRAWAL OF COMMISSIONS.