Trust Fund Timing and Recordkeeping Requirements for California Property Managers

Jozef G. Magyar, Esq. July 2021 The Department of Real Estate (“DRE”) regularly investigates property management trust fund handling.  Within three (3) business days following receipt of funds belonging to another (“trust funds”), the broker must transmit those funds to: the owner(s) of those funds a neutral escrow depository, or a trust account maintained by …