Bill > HB4492

This bill amends West Virginia law to increase the maximum amount of a real estate broker's own funds that can be deposited into a trust fund account from $100 to $500. Trust fund accounts are accounts where brokers hold money belonging to others, such as earnest money deposits or security deposits, related to real estate transactions. This change allows brokers to maintain a slightly larger personal balance in these accounts to cover minimum balance requirements at financial institutions, while still ensuring that the majority of the funds in the account belong to clients and are protected.

Government Affairs

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4492&year=2026&sessiontype=RS&btype=bill