What is the limitation on personal funds in a trust account established by a real estate broker?

In West Virginia, real estate brokers are allowed to maintain a trust account to hold client funds, which are meant for specific transactions. However, there is a limitation on the amount of personal funds that can be included in this account. According to state regulations, a broker is permitted to deposit a nominal amount of personal funds, specifically up to $100, into the trust account to cover bank charges or ensure the account remains operational. This allows the account to function effectively while ensuring that client funds are clearly separated from the broker's personal funds.

This limitation is important because it helps maintain the integrity of the trust account. By restricting personal funds, the broker ensures that client money is not co-mingled with their own, which is crucial for protecting clients' money and complying with regulations that govern trust accounts. This practice reflects the necessity of transparency and accountability in real estate transactions.