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Victoria Estate Agent Licence Exam
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Victoria Estate Agent Licence Exam Flashcards
Victoria Estate Agent Licence Exam
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Front
What is a trust account and when must it be established by an estate agent in Victoria?
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Back
A trust account is a bank account for holding money on behalf of others. Under the Estate Agents Act 1980, an agent must establish a trust account if they receive or hold money for or on behalf of others related to a transaction. The account must be maintained at an authorised deposit-taking institution and separately recorded.
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