California Lawyers For Real Estate Agent Mishandling Of Money Charges
In the event that a real estate broker must hold funds in escrow for a client, the broker is bound by strict rules governing how to manage the funds. Any evidence of a breach of fiduciary duty could result in harsh disciplinary actions by the California Department of Real Estate (DRE), formerly known as the Department of Real Estate (DRE).
If you have reason to believe you are being investigated for mishandling client funds or are seeking guidance for compliance with regulations regarding fiduciary duty, the attorneys at Century Law Group LLP are here for you. We have more than 45 years of experience handling DRE defense matters for clients from Los Angeles, San Diego and throughout California.
Mishandling Of Real Estate Escrow Accounts
Misuse of client funds can result in a broad range of consequences including fines, restitution, civil lawsuits and disciplinary actions. Depending on the nature of the incident, your license could be suspended for a significant period of time or revoked permanently.
Examples of mishandling of client money include:
- Converting to personal use funds entrusted to the broker
- Failure to obtain and retain written verification of the buyer’s deposit
- Failure to maintain and share records of escrow fund transactions
- Failure to immediately deposit a buyer’s funds into an escrow account
- Failure to prepare the required monthly escrow considerations
Mishandling of money, or breach of fiduciary duty, is a serious allegation and should be dealt with swiftly. It is important to consult with an experienced DRE defense lawyer as soon as possible to defend your rights, your license and your livelihood.
Full-Service DRE Defense Firm
In addition to matters regarding mishandling of money, we can advise you on a number of issues in regard to your license, including:
Contact Our San Diego DRE Defense Attorneys
If you are seeking representation for a California Department of Real Estate hearing or for compliance, our lawyers are here for you. Contact us to schedule a free initial consultation to discuss your DRE defense case. We are available for evening, weekend and off-site appointments upon request.
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