Trust Funds
Conversion
A concise definition for the California Real Estate Exam study guide.
Definition
Unauthorized use of another person's funds or property. More serious than commingling. Can result in criminal charges and license revocation.
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 7: Trust Funds & Broker Accounting →