Ariz. Admin. Code § 20-4-702

Current through Register Vol. 30, No. 25, June 21, 2024

Section R20-4-702 - Account Practices and Records

An escrow agent shall maintain records to enable the Director to reconstruct the details of each escrow transaction. The records shall include the following:

1. The seller's name and address;

2. The buyer's name and address;

3. The lender's name and address, if any;

4. The borrower's name and address, if any;

5. The real estate agent's name and address, if any;

6. Complete escrow instructions;

7. Records and supporting documentation for each receipt and disbursement made through the escrow; and

8. A copy of the escrow settlement.

Ariz. Admin. Code § R20-4-702

Former Rule 2. R20-4-702recodified from R4-4-702 (Supp. 95-1). Amended by final rulemaking at 7 A.A.R. 5385, effective November 9, 2001 (Supp. 01-4). Amended by final rulemaking at 29 A.A.R. 1949, effective 10/2/2023.