N.J.S.A. 45:15-12.7 — Agent, custodian may not use interest on escrow funds
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The New Jersey real estate licensing statutes. Browse license qualifications, education, brokerage duties and related provisions.
Legislature compilation: through P.L.2026, c.30 and J.R.1
Source text checked October 16, 2026. This independent reference reproduces the source compilation at the cutoff shown above; later changes may not yet appear. Check the official source ↗
N.J.S.A. 45:15-12.7
Agent, custodian may not use interest on escrow funds
SOURCE TEXT
44. A real estate broker acting in the capacity of an escrow agent or as the temporary custodian of the funds of others in any real estate transaction shall not receive, obtain or use any interest earned on the funds for the broker's own personal or business use.
L.1993,c.51,s.44.
Legislature compilation: through P.L.2026, c.30 and J.R.1. Text and source checked October 16, 2026. New Jersey Legislature, unannotated statutes.