§ 696.241 Clients trust accounts; commingling of funds; branch trust account; interest earnings on trust account; when broker entitled to earnest money; funds not subject to execution; rules
§ 696.243 Substituting copy for original canceled check allowed; electronic fund transfers
§ 696.245 Clients trust accounts; notice to bank and agency; retention of copy

Terms Used In Oregon Statutes > Chapter 696 > Real Estate Licensees > Client Trust Fund Accounts

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fiduciary: A trustee, executor, or administrator.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC