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What are the requirements for a property management trust account?

All property management accounts must be clearly designated as trust accounts and include descriptive wording in the trust account title, such as “Trust Account”, “Fiduciary Account”, “In Trust for (individual or entity name), “Trustee for (individual or entity name) or “Fiduciary for (individual of entity name). (A.R.S. § 32-2174.A)

The minimum requirements for a property management trust account are the same as for any broker trust account, as delineated in A.R.S. § 32-2151.B.

Persona: 
Auditing
FAQ Category: 
Property Management

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Arizona Department of Real Estate

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Phoenix, AZ 85007

Phone: (602) 771-7700

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