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Florida Real Estate Exam

Category - Florida

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An impound account will benefit:

The beneficiary and the trustor
The trustee
The trustor only
The beneficiary only

Explanation

Answer A - The beneficiary benefits from an impound account by being assured that the taxes and insurance will be paid. The trustor benefits by being relieved of the responsibility to come up with those major costs when taxes and insurance become due.

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Florida Real Estate Exam

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