State of Oregon: Clients Trust Account - Open a Clients 2025

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The document is a Notice of Clients' Trust Account and Authorization to Examine, required under Oregon Real Estate License Law. It outlines the responsibilities of licensed real estate property managers or brokers to maintain federally insured clients' trust accounts for holding funds belonging to others. The document includes sections for designating a bank account, authorizing the bank to provide information to the Real Estate Commissioner, and requires acknowledgment from the bank representative.
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Real estate brokers are required to hold their clients money in a trust account. A trust, also referred to as an escrow account, is a bank account that temporarily holds money belonging to other people. Banks treat trust accounts differently than regular checking accounts.
Trust funds are money or other things of value that are received by a broker or salesperson on behalf of a principal or any other person, and which are held for the benefit of others in the performance of any acts for which a real estate license is required.
The maximum amount of personal money a broker can keep in their trust account is typically dictated by regulatory requirements, often around $250,000 in the U.S. Brokers must also ensure that personal and client funds are kept separate for client protection.
Under Oregon real estate license law, the funds held in a principal brokers clients trust account can indeed be subject to both attachment and execution on a claim against the principal broker.
In Oregon, the activities that unlicensed individuals can engage in are limited. Heres a general overview: Property Maintenance: Unlicensed individuals can oversee the maintenance and repair of a property. This includes coordinating with contractors, ensuring regular upkeep, and addressing tenant-reported issues.

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People also ask

Oregon requires persons who manage real estate for another for compensation to hold a property managers license. ORS 696.030 provides some exemptions to the licensing requirements of ORS 696.010 and 696.020. One exemption is for persons who manage their own property.

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You need to open at least one clients trust account if you are a: Property manager. Principal broker managing rental real estate.

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