Cibolo, TX asked in Consumer Law for Texas

Q: By law, how long does a Real Estate company have to deposit rent into the Mortgage owners account?

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1 Lawyer Answer

Edward J. Kazaleh

Answered
  • Consumer Law Lawyer
  • Houston, TX
  • Licensed in Texas

A: I hope you got this answered already since it has been a while...

Generally Real Estate licensed persons or companies have to deposit the funds in the account of their client, a special trust or escrow account or with their principal's written permission and direct instruction, elsewhere. Mostly, payments go into Trust accounts and must be deposited in 48 hours. If you have problem with these issues, please call the Texas Real Estate Commission or go online to their website. www.trec.texas.gov

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