Indiana § 25-34.1-4-5 Trust accounts

Indiana Statutes

§ 25-34.1-4-5 — Trust accounts

Indiana § 25-34.1-4-5

Title 25PROFESSIONS AND OCCUPATIONS

Art. 34.1REAL ESTATE BROKERS AND

Ch. 4Principal Brokers

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Bluebook

Ind. Code § 25-34.1-4-5 (2026).

Text

(a)Each broker company shall do the following:

(1)Maintain one (1) or more trust accounts (interest or noninterest bearing).

(2)Deposit into a trust account described in subdivision (1) all funds belonging to others that come into the possession of the broker company or of any broker whose license the broker company is holding.

(3)Clearly identify any account that is a trust account. The trust accounts shall contain all earnest money deposits, funds held for closing escrows, sale proceeds not yet disbursed, and all other funds belonging to others.

(b)The broker company shall not use any trust account for the deposit of any personal funds or other business funds and shall keep a detailed record of the funds and any interest accrued in each trust account that identifies the amount of fu

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(a) Each broker company shall do the
following:
(1) Maintain one (1) or more trust accounts (interest or
noninterest bearing).
(2) Deposit into a trust account described in subdivision (1) all
funds belonging to others that come into the possession of the
broker company or of any broker whose license the broker
company is holding.
(3) Clearly identify any account that is a trust account.
The trust accounts shall contain all earnest money deposits, funds held
for closing escrows, sale proceeds not yet disbursed, and all other funds
belonging to others.
(b) The broker company shall not use any trust account for the
deposit of any personal funds or other business funds and shall keep a
detailed record of the funds and any interest accrued in each trust
account that identifies the amount of funds held for each beneficiary.
Any interest earned shall be held for the beneficiary.
(c) Upon:
(1) the death of the sole proprietor, in the case of a sole
proprietorship broker company;
(2) the termination of a broker company; or
(3) the expiration, revocation, or suspension of a broker
company's license;
the commission shall take custody of each trust account of the broker
company and may appoint a successor trustee to protect and distribute
the proceeds of that account.
As added by Acts 1979, P.L.248, SEC.1. Amended by
P.L.255-1987, SEC.5; P.L.114-2010, SEC.22; P.L.127-2012, SEC.24;
P.L.116-2015, SEC.10; P.L.166-2025, SEC.3.