Commingle | Propertylogy


By on October 10, 2018

Commingle refers to the combination, or mix, of client’s funds with a real estate agent’s funds in a single account.

This means that money belonging to a client that is related to a property transaction should not be deposited into a personal account or business account belonging to an agent or agency.

Sometimes also referred to as co-mingle, these actions will also be deemed as illegal even if all monies are properly accounted for right down to the penny.

The reasons for this is obviously to deter fraud and funny businesses from going on.

It also helps home buyers and sellers protect themselves from operators with bad intentions.

Earnest money belonging to clients must be held by brokers in a separate account for clarity.

However, it must be noted that funds belonging to different clients can be commingled into the same escrow account specially set up for clients without running afoul of the law.

You May Also Like...

hair1 eye1 abs1
Hidden items that bring up mortgage costs
Why friends look forward to your FAILURE
Hiring a competent agent
How to burn more calories in the office

Investors and homeowners receive our newsletters. Subscribe to our list.

Get More Real Estate Knowledge & Insights From Our Newsletters

Enter your email below

Send this to a friend