49 Pa. Code § 35.324 - Deadline for depositing money into escrow account
(a) Except as provided in subsection (b), a
broker shall deposit money belonging to another into an escrow account by the
end of the next business day following its receipt in the real estate office
where the escrow records are maintained.
(b) If the money of another has been tendered
to the broker in the form of a check under an offer to purchase or lease real
estate, the broker may, with the written permission of both the buyer and the
seller or the lessee and the lessor, refrain from depositing the money into an
escrow account by the deadline in subsection (a) pending the seller's or
lessor's acceptance of the offer. The broker shall deposit the check into an
escrow account within 1 business day of the seller's or lessor's acceptance of
the offer.
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