QUESTION
I need to open a trust escrow account for my real estate brokerage for property management division.
Asked on Oct 16th, 2017 on Real Estate - New York
More details to this question:
Hello, I need to open a trust escrow account for my real estate brokerage for the property management division. The bank says I need a business agreement letter between the trust and the business to open the account. I have asked 2 attorneys I know personally and they have no idea. Can anyone assist with this?
1 ANSWER
1 Award
You are using the wrong terms and confusing people. You need a security deposit escrow account? That is one specialty. Or, do you need an escrow account for a licensed broker. For that you need to be a licensed broker.
Answered on Oct 17th, 2017 at 1:30 PM