Other - Failing to maintain at all times a record of the Respondent’s trust account. Failing to maintain the general ledger, individual ledgers, and bank reconciliation to reflect current accurate balances. Failing to properly maintain individual l
Reprimand,
$2,500 Civil Penalty, and
8 hr Real Estate TRust Accounts class
Failing to maintain at all times a record of the Respondent’s trust account.
Failing to maintain the general ledger, individual ledgers, and bank reconciliation to reflect current accurate balances.
Failing to properly maintain individual ledgers for each real estate transaction.
Failing to conduct and/or document monthly reconciliations on a written worksheet to ensure the agreement of the general ledger balance, reconciled bank balance, and the individual ledger totals.
Releasing funds from the Respondent’s trust account prior to the closing of a transaction without the express written consent of all parties to the transaction, and
Failing to exercise reasonable skill and care in supervising an unlicensed employee charged with maintaining the Respondent’s trust account.
