All brokers in all fields of practice have access to a trust account and are responsible, together with their agencies and delegatee agencies, of opening and maintaining this type of account. This activity will help refresh your knowledge on how to properly manage this account. You will have an opportunity to apply your knowledge to practical cases that can be experienced by any broker.
Understand the role and obligations of the trustee
Keep accounting registers
Complete the trust transaction report
Understand the role of the trustee
Opening a trust account
Receipt of a sum in trust
Withdrawal of a sum from the general trust account
The keeping of trust account transactions register
The trust transaction report
You have any questions?
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The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) ensures the protection of members of the public who enlist the services of real estate and mortgage brokerage professionals governed by the Real Estate Brokerage Act.