Review trust account procedures

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Reference no: EM133370272

Assignment:

Task Performance 01: Review Trust Account Procedures

The purpose of this task performance is to examine typical aspects of a real estate trust account requirements and procedures.

1: List the different methods funds can be deposited into trust accounts.

2: Give 3 examples of the types of deposits that are made into trust accounts.

3: Explain how deposits into the trust account should be processed and what records must be kept.

4: Locate the section of the Land Agents Act 1994 that specifies the withdrawal of money from trust account. Describe the different ways that funds can be withdrawn from trust accounts.

5: Give examples of the types of disbursements that would paid out of a trust account.

6: Explain who within the agency would be authorised to complete deposits and withdrawals.

Reference no: EM133370272

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