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2019 Tennessee Code
Title 62 - Professions, Businesses and Trades
Chapter 13 - Tennessee Real Estate Broker License Act of 1973
Part 3 - Qualifications and Licensing
§ 62-13-321. Escrow or trustee account of deposited funds.
Universal Citation: TN Code § 62-13-321 (2019)
- 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.
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