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Real Estate Board
Mandate 1080

Mandate Information
Mandate Title:
Escrow deposits of rent payments received by real estate licensees
Purpose of legislation
Require real estate licensees to deposit all rent moneys, regardless of when received, in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to a lease transaction.
Legislation mandating a change Chap 1014 (2020)
VAC chapters to be amended
18 vac 135 - 20 : Virginia Real Estate Board Licensing Regulations
Associated Regulatory Actions
Action 5568: Amendments to reflect Chapter 1014 (2020)
Latest Stage: no stages yet
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