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Tenn. Code Ann. § 62-13-321

Escrow or trustee account of deposited funds

Known as the Tennessee Real Estate Broker License Act

The act spans §§ 62-13-101 to 62-13-604 (62 sections).

Acts 1988, ch. 919, § 1.

Every broker shall, in accordance with rules promulgated by the commission under § 62-13-203, keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing:

(1) The depositor of the funds;

(2) The date of deposit;

(3) The date of withdrawal;

(4) The payee of the funds; and

(5) Other pertinent information that the commission may require.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.