Oklahoma Trust Accounts

Due to the nature of real estate transactions (purchases and leases) brokers frequently hold substantial sums of money on behalf of their clients. Given the significant responsibility of managing client funds, the Oklahoma State Legislature has established specific provisions in the Oklahoma Real Estate License Code and Rules to regulate how brokers handle trust accounts. These must be considered in addition to the Oklahoma Real Estate Commission Rules.

This course will provide information regarding complying with the requirements for establishing and maintaining trust accounts in Oklahoma. Since any discussion of trust accounts and the disposition of funds is a broad subject, no single course can possibly answer all of the questions surrounding this important subject. Therefore, this course is intended as a means of guidance and information for real estate licensees in managing trust funds. This course should be considered supplementary to the business processes and accounting procedures every brokerage operation must use. In addition, this information should not be used as a substitute for competent legal advice.