Clients Trust Account

Who is required to have a clients’ trust account?

You need to open​ at least one clients' trust account if you are a:

  • Property manager.
  • Principal broker managing rental real estate.
  • Principal broker receiving and handling trust funds not deposited into escrow.

What is a clients’ trust account?

A clients’ trust account is an account that holds other people's funds. You may not hold personal or business funds in a clients’ trust account. A security deposit account is a separate clients' trust account that hold security deposits

A clients’ trust account can hold:
  • Funds received by the property manager on behalf of an owner.
  • Interest earned, but only if the account is a federally insured account and the property management agreement complies with OAR 863-025-0020(3).
  • Funds received and handled by a broker or principal broker as part of a real estate transaction but not deposited into escrow.
A security deposits account can hold:
  • Security deposits.
  • Interest earned, but only if the account is a federally insured account and the property management agreement complies with OAR 863-025-0020(3) and the tenant has given the property manager written approval as required by OAR 863-0035-0025(24).
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