Question

17. What action is the Commission allowed to take if it has cause to believe that a licensee is about to violate escrow account rules?
a. Seek a monetary fine.
b. Enjoin the broker.
c. Withhold the license renewal process.
d. Sue to enjoin any violation action.

Answer 1

The Commission can sue to enjoin any violation action.

Before money or assets are transferred from one party to another in a transaction, a neutral third party is said to be keeping them. This third party is referred to as escrow. Until both the buyer and the seller have complied with the terms of the contract, the third party keeps the money.

Escrow is a legal term that refers to a financial arrangement in which a third party holds an asset or money on behalf of two other parties who are carrying out a transaction. The escrow agent is in charge of escrow accounts. Only after certain contractual duties have been fulfilled does the agent release the assets or funds. Escrow can be used to hold several types of assets, including cash and securities.

To know more about escrow refer to:

brainly.com/question/15703254

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