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Florida Real Estate Exam

Category - Florida

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Florida law requires that escrow accounts be in any of the following EXCEPT:

A Florida-based title company having trust powers
A credit union located in Florida
A qualified Florida attorney’s trust account if designated in the contract
An insurance company located in Florida

Explanation

Answer D - Acceptable depositories for escrow accounts are: Florida-based title companies having trust powers, a commercial bank, a credit union, a savings association, or, if designated in the sale contract, a Florida attorney.

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Florida Real Estate Exam

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