Escrow Handled By Brokers Flashcards
0
Q
Prohibition 1
A
Soliciting or excepting an escrow instruction (or amended or supplemental escrow instruction) containing any blank to be filled in after signing or initialing of such escrow instruction.
1
Q
Escrow handled by brokers
A
Brokers licensed by the real estate commissioner will conduct activities relevant to real estate transactions are generally exempt from California is escrow law - Pursuant of the California financial code. However, brokers may still have occasion to handle escrow funds on behalf of borrowers. For this reason, the regulations of the real estate commissioner provide the following prohibitions relevant to escrow funds.
